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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Real Man who wrote (87516)	5/27/2009 6:11:03 AM
From: GROUND ZERO™	Read Replies (1) \| Respond to of 94695

I think there's more than just "too many bears who want to short this just cause we had a large rally"... there's a reasonable technical reason why this market still may have hit some serious overhead resistance... Take a look at these two pictures, one is the weekly futures chart and the other is the weekly VIX... I'll put them closely together so you can see the relationship better... The recent two tops on the futures charts of May 19th and August 25th of 2008 coincide with the lows on the VIX chart AND these highs and lows on the respective charts can be connected to create a resistance and support line that comes right to this past week's high/low... There is every reason to believe that the down trend could resume very soon once the model confirms a sell signal... Futures Weekly VIX Weekly Something worth considering...<g> GZ