Equity markets didn't behave very well for the longs while I was gone but Friday certainly was interesting as the buyers stormed in to recover all the losses in the final hour of trading.
The SPX appears to be oversold for the time being and I did buy some stuff late on Friday - (MSFT MKC ABT SSO).
The VIX is still in over bought territory at about 9% above the SMA 10- while the SPX stands at an RSI 2 of 23- also note the stretch on the bands which are 3 standard deviations -
Trading the SPX now - definitely good support at Friday's lows and of course the SMA 200 at/near 1020-
Dr. Brett with some good stuff on Friday-
Trader Mike looking at some price levels;
The TRIMTABS guys wondering what happened to the guy;
And there are definitely some good reasons to invest in MSFT at these levels;
An update on credit ratings for various countries and states- pretty good;
Lots of hungry people in this country - too sad;