Trade the Cycles

Tuesday, February 23, 2010

WATCH SPX's 1075.51 Downside Gap/Magnet From 2-16's Open

SPX's (S & P 500) big Short Term Wave 1 Upcycle since 2-5-10 peaked on 2-19, see http://bit.ly/i0nsT.

Trading Roadmap: WATCH SPX's 1075.51 downside gap/magnet from 2-16's open, see 5 day chart http://bit.ly/3qGxf3, and, keep in mind the 1056.74 downside gap/magnet from 2-9's open.

The intraday SPX Wall of Worry (SPX vs VIX) experienced a bearish rapid very large rise in VIX/fear today 2-23-10, see http://bit.ly/UTZwc.

The 5 day DJUSFN/WMT/XOM Lead Indicators are bullish/neutral/ver
y
bearish, see http://bit.ly/90I4Mz.

Follow me on Twitter (highly recommended), see http://twitter.com/tradethecycles.

Nothing discussed on this Blog is a recommendation, or, should be construed as investment advice.

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posted by Joe Ferrazzano at 2:34 PM

2 Comments:

  • Market breadth closed negative, which is a bearish indication; see http://bit.ly/lPIyW

    By Blogger Joe Ferrazzano, at 2:45 PM  

  • SPX (S & P 500) volume was a below average 3.690 billion shares vs the 60 day EMA at 3.933 billion shares, which is a bearish indication, because, the big money didn't buy today 2-23's significant weakness in a meaningful way.

    By Blogger Joe Ferrazzano, at 2:51 PM  

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