Monday, October 20, 2008

2008-10-20 Market Watch

The volume is not strong enough, so tomorrow is critical in the short term.

SPX daily and XLF daily no update.

SKF daily: direction undecided.  Stay away for now.

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SPX 60-min: it may go toward either directions.  I guess the trend is still up in the short term after a minor correction.

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XLF 60-min: short term bearish although a correction may come soon.

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TED spread dropped further.  But this drop needs to continue for a few more days.

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Matthew's charts:

VIX looks very promising: wait for concrete confirmation.

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QQQQ:

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