Thursday, February 25, 2010
Positive Thinking at Work
This brings to mind my previous Bucket List post and although it was published almost a year ago, I might just as well have penned it yesterday. The XLF continues it's run and my little buddy the SMH, which had been dogging it the past few days, has once again surged. I'm frankly not very enthusiastic about SMH at the current resistance levels though and am standing back waiting for a retracement. More on that later.
Below is the inverse of the situation I noted in Tuesday's post . . in this case the VIX and VXX are both positive along with the rest of the major indices. Tuesday's all red situation resolved in a negative surge for the majors and yesterday's early morning all green dashboard resolved in a positive surge for the majors. I consider this little watchlist a valuable intraday tool as this is a snapshot as of 10:38 am PST. 2 minutes later the VXX turned red and 4 minutes later the VIX turned red, corresponding exactly with the VIXEN cross at 10:40 (white circle). This dashboard alignment is not a frequent occurrence, but when it does show up it's worth some close attention.