If we do continue this down move and break 1115 with some strong internals and volume, there is a good chance that the top may be in. But until then, the benefit of the doubt goes to the bulls.
Charts of the Day!
These charts are updated daily!
SPX, USD, Gold, VIX, XLF and Apple.
SPX, USD, Gold, VIX, XLF and Apple.
Thursday, September 23, 2010
Market Update - 9/23/2010
The sell off late in the day was a bit impulsive, yet the internals didn't really support it too much. We closed the day just about 3:1 down on market breadth.
If we do continue this down move and break 1115 with some strong internals and volume, there is a good chance that the top may be in. But until then, the benefit of the doubt goes to the bulls.
1115 and 1105 are the key pivots for tomorrow. Breaking back above the 1135 area will be bullish.
If we do continue this down move and break 1115 with some strong internals and volume, there is a good chance that the top may be in. But until then, the benefit of the doubt goes to the bulls.
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