Sunday, November 18, 2012

Possible reversal?!

Well, Friday the markets bounced around some more but this time they closed up for the day while also forming a bullish reversal candlestick pattern.  This candlestick still requires confirmation however.

As I posted last week, the VIX did move down and stocks moved up, however, the VIX is just about at it's 200 DMA support so it will be interesting to see if it bounces back up.  If so, this would bring stocks back down and keep us in bear mode.  We shall see.

Either way we are still short and our 5% trailing stop is still in place.

See you back here tomorrow night.

AJ Coops
 

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