Monday, January 12, 2009

SPX Range bound vs trending?

Those who read the morning blog or downloaded our morning worksheets noted the XLF and the IYR leading the market down on Friday.  That move continued today.  The SPX continued to the bottom of the wider 850-920 range.  Today we saw some other sectors on their third day down (SLX, KOL, MOO).

Tomorrow I will be looking for several keys to determine if we are in a bigger downtrend or if we are range bound.  I will use this among other things to determine the aggressiveness of my trading. 


  • Does C have another outsized move and lead the financials?
  • Does the SPX hold 850?
  • Do other sectors continue to develop bearish chart patterns? (see KOL below)


0 comments: