Friday, October 17, 2008

10.17.08 - Strong Tick & AD Lines

Non-price indicators are showing increasing strength as price is just now beginning to pick up some steam and challenge the morning highs. The 5-day MAs are beginning to flatten and the VIX has come down some ten points. However, the Nas 100 is having a really hard time getting going given the news. Think about what this means.

Ted Spread Plummeting

10:50AM PST: Now that's what they call a fast-break!

11:20AM PST: Just about back to trend line and still almost two hours to go. My goodness.

12:55PM PST: Time to close up shop for the week. Hope you trailed stops if you ventured into the long trade. Too tempting to sell that "witch hat." Lots of earnings plus CDS delivery round-one next week... The best week for stocks in thirty years? What a joke. Take a look at the mixed board to the right.

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