TheInvisibleHand

Originally Posted by TheInvisibleHand

As we start the week expect the market to reverse back up from it's free fall last week.
The recent news of a 950 billion bail-out plan for the euro zone, will be the excuse for the coming Rally.

$VIX -VOLATILITY INDEX



The $VIX finished last week @ 40.95 we could see as quick of a drop back to the 30's as it is also currently in over bought territory.

$USD- DOLLAR


The $USD is in overbought territory and should also head lower this week as other indicators are also suggesting it's move went to quick to fast, and we should expect it to retrace lower.

$INDU -DOW JONES

The Dow closed the week @ 10380, and is in now in short term oversold levels. Indicators are suggesting we should expect at least a test of the 10500 resistance area in the next few sessions, a break of those levels could see the DOW yo-yo back to the 10800-11000 in the short term. The Dow has ample support at 10250 and lots of support at the 10000 level. Despite last weeks 30 min 1000 point plunge, we think the 9800 print will represent the bottom for the $INDU chart.