UPDATE - Looking at DAL - Looks like DAL is a nice short candidate. Reversing off wedging into top line diagonal after nailing a 61.8% retracement of the fall at $14.81. The indicators on this weekly chart look ill and have room to fall. The pink neckline on the right is trying to crack along with the lower wedge support line and the 38% retracement here. If this gives way that is a possible $4 drop to near $7 as a H&S target (which works nicely with the %0 to 61% retracement zone). Stockcharts PnF has a target of $6 - Nice!
Up today as we get back some of the 31 we lost Friday in the SPX. GS in the morning and AAPL after the close tomorrow should effect the market.UZ pointed out the VIX/SPX divergence that was happening Friday which was interesting. I do not follow the VIX like I used to cause I think it's relevance has been diminished cause of the corruption in the markets, but this is still worth noting.
On the big blog I mentioned the AUD/JPY pair and how it's 30m charts are inverse to the spx.Gonna keep an eye on this.
Little gap up this am. Let's see how much it corrects. More to come later. Good luck this week.
