Monday, October 26, 2009

10.26.09 - Swan Dive to the 20-DMA


That was quite a tradeable dive to the twenty-day moving average on the SPY ($107.10), and S1 levels for the QQQQ and IWM, respectively.  Tells included the Financial's under-performance, the cooling of the AD line and Tick, and finally the fast break higher in the VIX as price slammed the daily pivot.  At the mid-day we have found temporary support at those levels and are attempting to stabilize.  By the same token, the SPY is struggling to break back S1, so we'll see.  This leaves us a bit oversold even as the intermediate MACD and 52 Week Highs - Lows look to have rolled over.

2 comments:

Mike Olivera said...

Jeff,

For those Market Rewind members that also use TradeStation would you consider making your chart setup available so we can be reading from the same page? Just a thought.

Mike

Jeff Pietsch CFA said...

Hi Mike, I am more than happy to for ETF Rewind subscribers. Best, Jeff