Tuesday, November 29, 2011

Preperation for Tuesday Nov. 29 2011

Markets gapped up Monday and slowy faded the day.  News and rumors running this market.  Trading on price action is the way to go, not lagging inidicators.  I continue to watch supports, pivots, and resistances.  As well as the volume at price indicator...  Below are a couple leveraged etfs Im gonna watch tommorrow more closely than others, becasue I found them to be cleanest...which i've come to conclude easiest to read and usually run better then the rest.  Both Long and short set ups, depending which way market goes.  I also drew some trendlines which are important too.

We could very well chop around these levels in market on Tuesday, just because of the triple digit moves recently..

Remember$$ -  Up channels like to break down.  Down channels like to break up. ; ]


Short charts



Here is the $VIX.  THe $VIX is starting to coil its price Starting with the big ranges of $24 and $38 range.  Now its starting to stay waithin $31-$36..  THe $VIX day looks like a bear flag in a bull flag..Santa rally possible, then a pullback after new year?...

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