07/10/2008 Market Recap (Orderly Retreat)

Posted by Yong Pan | Jul 10, 2008 | Free Contents | 0 |

I still don't see the bottom. Forget all the arguments about whether VIX must spike or not bofore market bottoms, let's just use a very simple standard: take a look at chart 1.0.0 S&P 500 Large Cap Index, so far I don't see any sell off lasting 3 days in a row. This is an orderly retreat, I'd be very surprised if the market is bottomed from here.

5.2.0 Energy Select Sector SPDR, up 3.07% today, wow, but not good for the overall market.

0.0.8 TRINQ Trading Setup

80% chances QQQQ will close down tomorrow.

Trader's Calendar

Major U.S. Economic Reports are HERE
12/02: Dec 1st day, Nasdaq down 7 of 11
12/16: OE Monday, S&P up 14 of 23
Dec OE Week, S&P up 28 of 39
12/18: FOMC
12/20: OE Day, S&P up 26 of 41
Week after Dec OE, Dow up 25 of 32
12/24: Shortened trading day
12/24: Before Xmas, Nasdaq up 12 of 16
12/25: Christmas day, market closed
12/31: Year last day, Nasdaq down 17 of 23
01/01: New year's day, market closed
01/02: Year 1st day, Nasdaq up 18 of 26
01/03: Year 2nd day, Dow up 21 of 320

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