INDICATOR UPDATE

The BUY LOW SELL HIGH indicators have not been very helpful of late and my stats indicate we are neither in buy or sell territory. Obviously, the trend up has been very strong and each and every pullback since the summer lows have been quickly bought.

The 2 day RSI on the SPX is 83, IWM 25, DJIA 64 and QQQQ 61 so no signals there and no question that this is a big cap rally, yeah sure.

The last quote on the VXO is about 3% under the 10 day SMA so no signal on that volatility index or any of the others either.

The 5 day RSI on the VXO is above 30 so a confirmation of the no sell signal on the VXO.

In the past few months, I have done mainly daytrading of the YM DJIA Futures using daily pivots, resistance and supports. I must admit, they work great and I intend to stay with the program.