Friday, July 29, 2011

Different Day Same Prices. What A Difference Two Days Makes.. (VXX)

ES 5 min
Good afternoon ladies, one this different about today.. The babe is different.. anyway you can see from the headline there is not any new prices to talk abou today besides the very short lived low in the ES of 1278.5 this past evening as word got out the debt vote was delayed. 1290 being support intra day a level which was sticky in the overnight session as well. you can bet stops reside below with level and any trades over 1300 will surely trigger a buy program....

Today the Boehner debt for is scheduled for 6pm eastern, perfect timing for the last trading day of the month? Yeah you got me there.. Clearly traders are still very cautiously optimistic about the outcome of the debt situation,
you can see by the downtrend line in the chart above which has held for 5 days in a row now. Each time the price tested the line it failed. Today the line in the sand was 1300 which is coinciding with the VIX which is quietly up over 4% today putting in a high of 25.94 this morning.

My guess is this market will continue to be offered until the shenanigans stop or a new bag of trigs is pulled out of the other bag of tricks.

Newer Post Older Post Home