Thursday, October 16, 2008

S&P 500 Since the Bailout News


The huge 10% rally hit the 50% retracement from the lows. We are currently at the 23.6% mark. What do we do from here?

The vix looks very bullish here. An inverted hammer with the high in the 80s!!!! But note, just because the vix comes lower does not mean we have a huge rally.