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VIX and S.P update

 

12/13/10

 

9:45EST

VIX: (NASDAQ:CBOE)

In essence we’re heading down to 15.50

Although at 16.02 to 16.17 we should see a decent bounce back up to 17.76 (max)

But beforehand

Expect a bounce at 16.97

Going through 16.97 as if it’s not there means we’re in a down extension (down to 16.02) only in the event we trade above 19.28 is the down extension canceled.

 

At 16.53 we should bounce and also at 16.24

At this point in time the bounces are clear in terms of time and price

 

ESH11:

We traded below 1237.50

Therefore 1233.00 and 1228.00 are currently key pivotal support levels.

If 1233.00 holds or we fail to reach it

Then 1244.75 comes into play (now term) up price target.

1246.50 also comes into play

 

SPX:

At 1250.60 to 1251.15 we have a reverse vacuum chamber, a potential failure level, meaning we could well reach 1250.60 to 1251.15 and fail to reach 1251.55