Posted in Daily Comment, Vix on Sep 21st, 2008
There are times when technical analysis just isn’t useful, and this last week was one of those times. When panic and news dominate the market there isn’t much use in looking at past prices for support or resistance, or looking at overbought or oversold indicators, or looking at price structure when the market is swinging [...]
Stock indexes opened sharply lower, but closed well off the session lows. You can see the large up candle on the right side of this chart. This was the day session S&P etf. The over-night session of the S&P futures shows a somewhat more bullish looking candle, with a long tail forming a hammer, although [...]
Above is the Nasdaq 100 QQQQ chart. I presented it today with a longer term view, and with the volume in the sub-graph. You can see the volume pattern on the rally has been on decreasing volume. Even with the near record up move yesterday, the volume was still far less than it was on [...]
