Wednesday, January 14, 2009

SP's

The stock index charts are very mixed.  I want to clarify my view as I am a reluctant bear short term in the face of longer term support.  There is a weekly signal to buy in the low 830's and risk about 40 points for a move back to 915.  On top of that we are in a daily buy zone.  This is countered with all the intraday stuff that is really showing no sign of a bottom of yet and the possibility of the daily chart becoming more negative without a bounce.  

I like selling the EC as noted earlier. 

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