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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* In answer to this often-asked question, please be advised that I do not post articles from other writers on my site.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...please read my full Disclaimer at this link.


* If the dots don't connect, gather more dots until they do...or, just follow the $$$...





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Wednesday, November 23, 2011


Below is a 4-hour chart of the VIX. It closed the day above the Monthly TPO Profile POC (red horizontal line) of 32.32 (the same level applies for both October and November). It also closed just above a triangle apex at 33.80...a hold above this level would be extremely bearish for the S&P 500 and could very well send price back down to the October lows.

Below is a 4-hour chartgrid of the YM, ES, NQ & TF. The 50 sma (red) has, once again, crossed below the 200 sma (pink) on the ES, NQ & TF to re-form a Death Cross...this is a confirmation of the bearish downtrend that began in July of this year...whether or not price returns to retest the 50 sma before resuming its downward trek remains to be seen. A helpful gauge of direction will be a close observation of the VIX.

Below is a 1-day 1-minute percentage comparison chart of the Dow 30, S&P 500, Nasdaq 100, and Russell 2000. The Russell led today's weakness, and, by the end of the day, the Dow shot down past the S&P and the Nasdaq to finish second in weakness...whether or not the downward momentum accelerates on the Dow to propel it into the daily leadership weakness category again is something that I'll continue to monitor (it led in weakness on Monday and Tuesday this week, as shown on the  next 2-day 2-minute percentage comparison chart)...also, see my post on Monday in this regard...in addition, I'll watch for a Death Cross of the 50 & 200 smas to re-form on the YM 4-hour chart to confirm weakness in the Dow.

I wish you all an enjoyable and safe Thanksgiving holiday.