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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Augustus Gloop who wrote (10432)	10/25/2008 11:50:49 AM
From: Jorj X Mckie	Read Replies (2) \| Respond to of 33421

yo gloopage, can't the vix be indicative of very large moves upward as well? the indicator has been true to the market, it is indicating that there is a lot of volatility

To: Augustus Gloop who wrote (10432)	10/25/2008 12:21:00 PM
From: Hawkmoon	Respond to of 33421

I'm not convinced either. Just stating that if we got any lower we'll still be looking for a bottom given the breakdown of those Bollinger Bands and the 200 month MA. If we get a major move down from here, in a manner similar to how the market broke down through the monthly Bollinger Bands, we're possibly looking at 5,000 DOW, and maybe even 3K-4k where the next major support level is. At which point it will become obvious to short any rallies for the long term to come and the DOW will remain in a trading range for up to a decade. Hawk