12pm update - sitting back..and waiting

We've seen some major levels taken out today, and many of the weekly and monthly charts are now arguably outright bullish. The sp/dow remain lagging though, and until we see >1474 and dow 13700s, I'll be somewhat suspicious of this bullish open to the year.


sp'daily5

vix'daily

Summary

Market is seeking a near term floor in the 1445/50 area, and it looks very likely we'll close at least in the mid 1440s.

VIX is essentially destroyed, and will probably take a few days to stabilise in the 15s. I don't think we'll see anything <14.0, even if we break into the sp'1460s.
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The 'fourth tower' idea.

See the daily MACD (blue bar histogram). Its just a vague notion I am keeping mind. Although the R2K and transports would strongly argue against it.
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I remain content to sit back...and watch.

Coal miners, not sure whats going on here, but there is a major reversal underway..

BTU and ANR looking a bit of a problem. Did the sector just get downgraded?
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*Poster, fulleralpha.. I'm still getting messages from you, but they appearing in the default blogger comments system, which will NOT appear here.

You need to allow disque comments to display, change your cookie settings or something are.

Nothing else I can suggest.
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