Tuesday, February 23, 2010
Bottom of the Range
I don't see much more downside for the rest of the week. We are near the bottom of the range, and I see us creeping higher starting from tomorrow. We are in a trading range, from 1093 to 1111 on the ES and it should keep the action contained for this week. Next week will determine whether we go to a higher trading range or a lower one. Based on this week's action, I will pick a side. I am leaning long though.
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2 comments:
Aren't you worried by the low level of fear ?
The market tanked today, yet the vix is only 5 to 6 points higher.
I meant 5 to 6 percents, of course, not points.
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