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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Galirayo who wrote (201716)	5/11/2009 7:18:11 PM
From: ajtj99	Read Replies (2) \| Respond to of 306849

Yeah, I think we're doing the distributive top thing, with the 930 highs maybe holding until maybe early June, when we could make another attempt at higher highs. The VIX appears to be reversing up on the daily and weekly charts, which is something that should concern the bulls. Volume on today's sell-off was low, so we'll see if the pattern of buying the next low the day after a long red candle pays off like it has the past 2-months. The monthly WTIC chart still looks on track to hit $64/bbl next month after tagging $59.85 Friday. If so, it's likely the SPX will be near the recent highs at that time.