Tuesday, April 28, 2009

Quick comments on volatility with your coffee

Looking like the ChartsEdge weekly may be off the table, at least for levels. We will need to size up which trendlines may give support going into the Fed tomorrow. But we also need to think that the Fed may be more interested in helping bonds, at least at some point. Many hedge funds end FY April 30, too, if that may be a factor.

You've gotta know I'm still watching my VIX and US dollar charts as guides, and you know those don't give help now for the big picture.

The Nasdaq 100 could be seen as on a trigger so if any pullback up doesn't exceed the high just put in, that can be bearish. I know there's one EW fellow, AllAllan in the blogosphere, who's showing that index getting ready for a wave 5 down to new lows .... Brrrr! Will see! There can be other alternatives so watch the levels significant to your time frame, and we'll see what Fed Wednesday does to all this tomorrow!

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