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Public blog posts only as education and entertainment. private membership market updates reflect my view and analysis of the market. The information contained on this website and from any communication related to the author’s blog and charts is for information purposes only. The chart analysis and the market comments do not hold out as providing any financial, legal, investment, or other advice. In addition, no suggestion or advice is offered regarding the nature, profitability, suitability, sustainability of any particular trading practice or investment strategy. The materials on this website do not constitute offer or advice and you should not rely on the information here to make or refrain from making any decision or take or refrain from taking any action. It is up to the visitors to make their own decisions, or to consult with a registered professional financial advisor. And i absolutely discourage trading options.

Monday, August 1, 2011

most up / down /up volatile day in over one year - often means some meaningful moves are coming.

as the debt limit drama proceeding. market gapped up sharply(at the mid blue DIA 1m pitch fork resistance), up about 140 $indu points shortly after the open, then turn down sharply right away. was down 140 $indu points within 1.5 hours. this is the most up / down swing day in over a year. DIA low was at the lower blue pitch fork line with a bit undershoot.

what bears need to concern is $VIX down over 7% on such volatile day as several of its technical readings ...

just in, 16:38 ET cnbc news, debt limit vote. house vote is tonight, senator vote is tomorrow.