Friday, November 13, 2009

Friday the 13th

The only thing scary today is the way the dollar keeps going down the drain, but a bounce on the tape was to be expected, and could bode well for the bears going into the afternoon hours. We'll have to see how far up they'll melt this. As Fujisan mentioned, the chart on the Qs continues to look pretty bullish still, and as David has mentioned often, there is little influence in the Qs from the financials, so it's not too surprising, even though we see major sectors like XLF continue to struggle and lag behind. Also, as Vardoger mentioned earlier, volume is once again lackluster, but this has been the pattern for weeks now.. low volume on Monday and Friday, so it's a pattern that's worth watching going into the remainder of the month, particularly with the holidays coming soon. Below you'll also see a chart on VIX done by Zig Zag, and thanks as always to him for sharing his great charts! Also.. if you missed Bala's mid-day session, you'll find it here. Thanks, Bala! Good trading to us all going into the close, let's make some money!

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