Friday, October 14, 2011

SPX Interim Top at 1257-60 area


11/14/11, 11:14 PM CST

I checked all charts one more time. All Indexes show that a top is definitely close and I am not sure about 1307 (78.6% retracement) by looking st SPX chart but $DXY chart is very clear. It has to go down to test 75.424 (61.8% retracement), so I will be watching that very closely. VIX chart is very clear too. It has to test 16-17 area, however short term VIX is very close to a bounce.

here is where I will short indexes/related ETFs
SPX:- 1257.58
$DJI:- 11,931
COMP:- 2761.73
RUT:- 766.63
OEX:- 564.31