Thursday, February 4, 2010
One concern is that this will open the door for shorts to try their luck for once and push price all the way down to the 200-day ema, which increasingly seems within grasp near SPY $104.75 (see early thesis on this from last week). Even stronger support is technically indicated between there and the 200-day sma, which corresponds roughly to the early November lows (say between $102 and $103). Look at that VIX go, +18% -- Yee-Ha!
Posted at 12:53 PM