Thursday, July 1, 2010

07.01.10 - Nauseating Reversal

Was that enough for now? Volume is certainly heavy enough, we are at the half and there must be institutions with fixed allocation parameters that are looking at forced rebalancing here, if not soon. The VIX tagged 37.5 before the reversal just above yesterday's indicated long-term Fib support. If this can catch I suspect it may run a while if jobs doesn't surprise too badly to the downside -- though I don't mean to imply we are out of the woods here by any means.

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