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More Upside?

21 September 2004
Author: site admin Posted under Investing, The Markets

Today ^VXO hit a new intraday 52 week low at 12.66, an extreme to say the least. The Markets have recently been turning lower when ^VXO gets in the 14 range (until now that is). The FED spoke today and bumped interest rates 1/4 point. When the FED met in August and raised a 1/4 point then, it marked the end of the downtrend at that time. Here we are now in an uptrend and at resistance. Will the markets break higher…or will they head for the exits. I will be watching for a bigger spark of fear to signal the downtrend. Until then, the old, old adage…”The trend is your friend” rules.


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