Tuesday, July 08, 2008

Blehh! Neither here nor there

Not much conviction on either side but given bears have had the edge coming into the day, one would have to give them the advantage for Tuesday. The one thing which caught my eye was the spike in volatility (and drop in the S&P) midway through the day.

The following chart is one frequently seen on Vix and More (in fact, he posted it yesterday!). Just to repeat; bottom nearly here:

Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, market alerts and stock charts website