Monday, March 5, 2012

Close under Trend Average

The market finally closed under its trend average and now we need confirmation by having another close tomorrow under the TA, preferably in a get away gap down. If the market can push thru 1366 and close above it again then it it will still have a chance at another stab at 1378. But so far, it seems like the market is rolling over and the burden is on the bulls to gain ground lost today.

I am keeping my positions and I think it was interesting the VIX went up 4%+ but my VIX ETN actually ended negative. I think last time I saw that was few weeks ago when I started trading it and the next few days it jumped 5 points. It's a weird and volatile instrument and I guess that's what makes it challenging to trade but in a good way.

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