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The latest from the
IndexHunter session 11/03/2009 VIX - hourly chart had a nice clean upside divergence with a double bottom, then there was a topping pattern which says the Major Markets should be slowing down, so go to currencies and see where the leaders are going to be. SPY - on the hourly chart the blue line wasn't above the signal line, but still shows stability. SMH - pattern is not good enough to surge like we want. XBI - clean double bottom with a huge divergence sent the price spiraling upwards. SLV - price at same lows but indicator is up, combine this with gold and commodities strengthening, then we have the characteristics of a good trade. GLD - stronger than SLV because the daily chart had already turned up and the pattern is stronger. |