Friday, July 2, 2010

Definitely some kind of bottom here...

First, $VIX has backed off...


Next, Put/Call is exceeding it's Bollinger Bands...that takes some extreme sentiment...



Finally, what is contributing to the exteme sentiment? The 'Death Cross' of the 50 and 200 day moving averages, just happening now...



Clearly, this is causing a bottom to form...I haven't decided yet how important it is.....

One thing also to note, we are now below the weekly Bollinger Bands, which are at 1029.60..this is contributing to the reluctance to go lower...

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