The post-chemical weapons rally after the fear of a war with Iran appears to have run its course.
The draconian (sucking the money out of our wallets) health care cost increases loom on the horizon and earnings season lays ahead. The giant headwind of higher oil prices leaves the market in a vulnerable position - like Wile E. Coyote after he has run off of a cliff.
Investors appear to have regained their confidence and now stock prices appear to be ripe for profit-taking from those who purchased in the recent selloff.
I'm glad to see that VIX jumping 5 points led to a nice, tradable rally - see my other charts that discuss and cover this concept.
The stop will move down over time and the typical 3 times the 11-day average range is my intended risk-measurement yardstick.
Best regards,
Tim
12:10PM EST, 9/12/2013
The draconian (sucking the money out of our wallets) health care cost increases loom on the horizon and earnings season lays ahead. The giant headwind of higher oil prices leaves the market in a vulnerable position - like Wile E. Coyote after he has run off of a cliff.
Investors appear to have regained their confidence and now stock prices appear to be ripe for profit-taking from those who purchased in the recent selloff.
I'm glad to see that VIX jumping 5 points led to a nice, tradable rally - see my other charts that discuss and cover this concept.
The stop will move down over time and the typical 3 times the 11-day average range is my intended risk-measurement yardstick.
Best regards,
Tim
12:10PM EST, 9/12/2013
Subscribe to my indicator package KEY HIDDEN LEVELS $10/mo or $100/year and join me in the trading room KEY HIDDEN LEVELS here at TradingView.com
