SgTraderClub Weekly Stocks Updates: This Week is Pivotal

Monday, November 1, 2010

This Week is Pivotal

There is a major Fed announcement coming up on Wednesday addition to US mid term election on 2nd Nov. This week is gonna to be pivotal and honestly I have no idea where the market will heading to. Will keep my position light and stay nimble.

Overall, the market is in bulls camp, the generall market uptrend is well intact. But just be aware below weekly chart shows how the S&P 500 looks like. hitting its 200weekly MA resistance.

The volatility indicator VIX is at its 20s, condsolidating in the bottom range, looks like making a support but it has to break above 23~24 area to bring volatility higher.

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