Monday, August 17, 2009

SPX monthly

8.6 - 9 month cycle: Mar - Aug 5.5 mos Aug - Oct 3 mos

RST/megaphone formations with negative divergences.
w/SPX 1018 upper resistance

VIX/VXN have not broken above the noted resistances, yet. Markets are very overbought with negative divergences after rallying 50% based on massive debt printing.

Break above VIX 28.36 and VXN 28.48
Conversely, break below SPX 980



8/17/2009 closes

$COMPX 1930.84
$INDU 9135.34
$INX 979.73







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