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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.

Tuesday, January 17, 2012

$vix non-confirmation

so far, only 2 points higher than yesterday's high, and bulls are feeling invincible with high sentiments.
if a few more points higher, bulls will shout loudly of new bull market to historical high, lol.
PS. i am not a bull.

13:00 pm update:
i am looking for "much" higher price than $spx 1304 because of MT and Intermediate term most bearish impacts.

12:31 pm members update:
it's the best case scenario as previous updated ... wave b already completed, and $spx makes new recovery high above 1303.
use red trend channel as guidance.
Egan Jones downgrades Germany to AA- from AA.

pre-market members update:
because of the timing issue, looking for a bit lower price after the open, then a new recovery high above yesterday's 1303. ...

at day high, both $spx and $rut was at their corresponding MT red trend channel resistances.

both $spx and $rut are proceeding with the textbook pattern. (might post them later).

$vix never made a new low on today's market rally, a non-confirmation. often $vix bottomed before market top.

financials closed in the red, also a non-confirmation.
$rut only up 1 point at the close.

issued a pre-market special morning report, fully featuring current market in short term, medium term, and intermediate term.

as you can see from the charts of below post. for the whole year 2011, i never failed any medium term and intermediate term positions, both long and short positions.