Wednesday, January 25, 2012

01-25-2012 comments

Market is showing some weakness.  This was expected (but expected last week).  Still it is a drip, drip, drip type of weakness.  Seems earnings have been mixed and no longer pushing the market higher (OK, except APPL).  Could we have an event that produces a more vigorous sell off.  We could and I expect at some point we will. 

Today appears it will follow the pattern so far for the week.  The VIX fell over 50% from its high Nov 1.  so 3 consecutive down days should signal a trend change according to the rules I use. Use SPX to judge this (it would be better if all three fall, but so far we are getting mixed closes).

Here is the SPX:


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