Monday, May 17, 2010

An Interesting Week Ahead.

S&P 500
The chart below shows weekly Harmonic Support and Resistance Levels.
Resistance @ 1190-1200
Support @ 1100-1110 and 1050-1060
Breaking 1030: The game is on!

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Option Ratio and Volatility.
Plenty of room to move to the upside for the CBOE Equity Ratio
Volatility turning up the heat: Moving averages converging. If the moving averages (21-55-200) rise above 25% they will exceed the 2007 pre-panic VIX MAs Highs.



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