6.16.2009

THE CLOSE


Markets closed at the lows and that probably should have been predicted once yesterdays lows were taken out. The SPX -12, NAZ -20 and the DJIA -107.


Sector winners- metals, drugs and junk while retail, energy, brokers and homies lagged.


SPX 90 GREEN;

NDX- 18 GREEN;


VIX - higher by 6% at 32.7 and a full 10% above the SMA 10- hasn't happened in a while;


RSI (2) levels:


SPX 5

NDX 2

RUT 4

DJIA 5


So going home long some QLD and looking to hold for an exit when the RSI is over bought at/near 70 area- hopefully this market doesn't just go straight down - not that likely.


Also, tried some DIG today but was stopped out of that trade pretty early.


Some pretty good ES monthly support at the Pivot near 903.-


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