Tuesday, February 8, 2011

Up and up

It's 10:30 a.m. and it looks like bulls don't care about that the market is overbought on short term, SPX is now 26 points above SMA 120. No resistance ahead on short term term. Short term support around 1308.

Please pay attention that VIX was up yesterday despite the 8 points gain on SPX. Today is also up while SPX is slightly on green. Something is "cooking" right there.

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