Wednesday, October 3, 2012

3 Oct 2012

In the shorter time frames, we are in a neutral position.  In the longer time frames, we are showing a little weakness in that the current peak is lower than the past peaks.  This weakness will not present itself until it does - usually in the form of a worse sell-off once (if, haha) it finally occurs.

VIX appears to remain subdued by the red and blue trendline I drew.  The 50 day moving average is also right there.  Once this pattern resolves, we should have a decent sell signal (if) when it comes.

"When nothing seems to help, I go look at a stonecutter hammering away at his rock perhaps a hundred times without as much as a crack showing in it. Yet at the hundred and first blow it will split in two, and I know it was not that blow that did it, but all that had gone before."
Jacob Riis

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