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Ag and Gold Consolidating »

Market Charts

Here are updated market charts… the SP500 and the SPY…

sp2

sp1

The consolidation with the easing of the overbought condition took place. The apparent breakdown in the VIX, along with the consolidation, tells me there maybe short-term upside in the markets.
vix

But on that note, I am not overly bullish as there are still conflicting indications (or at least things that make me uneasy as they make things look fuzzy).  If the VIX is able to get oversold, via the CCI, and approach the 200SMA I wll close the SPY calls.

This entry was posted on Sunday, March 30th, 2008 at 6:03 pm and is filed under markets. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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