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
11/01: Nov 1st day, Dow up 10 of 14
11/03: Daylight saving time ends
Week before Nov OE, S&P up 9 of 14
11/07: FOMC
11/11: OE Monday, Dow up 12 of 19
Week before Thanksgiving, Dow down 6
11/15: OE Day, Dow up 15 of 21
11/28: Thanksgiving, market closed
11/29: Shortened trading day
11/29: Nov last day, S&P down 16 of 25
12/02: Dec 1st day, Nasdaq down 7 of 11

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