October 27, 2010

Morning Post, SPX, S&P 500, e-mini

VIX essentially has an open gap all the way down to 19.95. 

Minis channel - Setting up for a nice POMO pop tomorrow?  Will that busted support become resistance near 76? Will the channel hold? Stay tuned for another episode of As POMO Turns.

Comparison chart -  INDU has caught the financials and COMPQ is lagging badly.

RUT daily - Large channel
Drilled down. Blue channel is working. Black wedge is busted. I quit if price hits the upper end of that blue channel again, so since that can not happen, let's look for it to break down here sooner than later.



Minis holding support so far -  refer to earlier charts for bigger picture.

DOW daily - 
 DOW 30m -


SPX cycle chart - I get the most mileage out of this puppy and till it breaks I'll keep on believing in it. 

4hr minis - down 5 this morning at 76 support. there is a pink diagonal and a lowered rising wedge support diagonal here as well.chart is ugly and very busy, but when you get runs like this there is a lot to take into account. this is one of my working charts, so you can see all the things I am considering (I even removed the VWAP work to clean this chart up).
4hrs drilled down - if 76 level cracks and holds then 65, 50, 35 and finally 25 are the support numbers to look for.
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