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Assuming we have arrived at a (interim?) market bottom the next key step is to begin identifying which of the sectors will take a leadership position in the rebound. Many feel it will be the tech sector. This will be part of my upcoming research. The other question is - since the foreign...

Ok, so this afternoon we finally resolved the test of the bottom of October 10th. And we all know how it was resolved. It HELD FIRMLY after a wild ride today. The shorts started covering and the longs began to feel more comfortable and began entering. Volume on today's rally was...

I've attached a current chart of the VIX. Notice it has closed above its 20 day Moving Average now since early September. It has penetrated it several times but cannot finish below the MA. This again will be a key sign to us when it closes below the 20MA that we have made a notable shift in...

Hong Kong down 12.7% overnight. Europe down 2-5% depending on the country. Nikkei is at its lowest point in 27 years. Guys it's very likely we are getting near the bottom of this thing. You're seeing historic drops in all the world markets now. All guidance is pointing down from all public...

We've had a 40 point bounce in the S&P since the 3-4 am period this morning. Pressure to hold the new double bottom? We'll see today. This could be the retest we have been lookinig for since the 10th. Look for potential resistance on the long side at 897 which was the late day high rebound...

Ok so here is the critical retest of the low of 10/10. Unlike Friday we actually BROKE the low of 10/10 on the ES (emini S&P) of 837 at 3am and dropped all the way down to 825 on the low this morning. Now we have penetrated the low and are experiencing a bounce as anticipated from there...

Meanwhile, as we all wait for these markets to level off and begin their recovery, there is one stock that I like that seems to be very reliable right now (and no it's not Gold): UUP (as the labor unions used to say "buy US")

If you believe the markets move on fear (panic) and greed, then the VIX tells you a lot as a read on the emotions in the marketplace. If you think the markets move primarily on fundamentals, then you can ignore the VIX.

Worth noting - the VIX is up to 81 which is even higher than 10/10 high of 79. Layoffs are beginning to be announced right and left. This will ultimately lead to a reduction in consumer spending. So as I have stated earlier I want to see the VIX move under 50 and stay there for a couple of...

Thanks HKIB. I have read a book about Livermore's life that discusses some of his strategy and it would appear to be very valid even today. As for the markets today, you had a near double bottom today on the ES (Emini S&P futures) at 9:30am. Today's low was 840.25 and the low on 10/10 was...

Thanks Matt. Somebody's putting out some faulty data today. ThinkorSwim, Prophet and Yahoo say 96.40. TradeStation says otherwise. I would tend to believe Tradestation as 96.40 is outrageous. CBOE agrees with Tradestation and says the high today was ONLY 79.43. Looks like the 3 Amigos...

At the rate we're going we may arrive at 839 today!!

Here's today's print: CBOE VOLATILITY INDEX(Chicago Options: ^VIX) Index Value: 72.99 Trade Time: 2:00PM ET Change: 3.34 (4.80%) Prev Close: 69.65 Open: 68.03 Day's Range: 64.43 - 96.40 52wk Range: 15.82 - 81.17 http://finance.yahoo.com/q?s=%5EVIX

You can see the downside penetration of the symetrical triangle that has been forming in the SPX since the low on the 10th. If we hold below the triangle this evening then it can be assumed we resolved to the downside and are heading for the next major support - a retest of the 839 low on the...

Anybody notice the VIX surge to 96.40:eek: today?? Absolutely astounding! I have a well-informed member of my trading group that predicted VIX 100 but I thought it was absurd at the time. Guess I better see what his other predictions were....

And what are the Livermore "Downtrend over" signs?

It is a new closing low which some might call a double bottom but I go by the intraday low - especially considering the doji on the 10th. In this case I don't think today's close was that significant aside from the way it held above the trendline of the recent lows. I believe the interim...

Another amazing day. We held above the trendline that traces the lows of 10/10 and 10/16. But not until we penetrated it by 3% in the afternoon. The strong finish to the day caused it to hold just ever so slightly above the trendline. If we open positively tomorrow I would take that as a...

There seemed to be a good number of folks here saying we have bottomed out over the last few days. Meanwhile, I see a SPX at 913 and a VIX at 62. THAT doesn't sound like a bottom is put in to me. The low of 839 is only 8% away so it seems very likely a retest could be in the works. Still...