Wednesday, November 11, 2009

11/11: Veterans' Day trade is light and positively biased

Markets put in a tepid 390 minutes of trade today, with the S&P500 rising a half percent -- 5.50 points -- to 1098.5. Intra-day, the benchmark noted a 52-week high of 1105, and the day's low was 1094. Most of the session was just water-treading, however. The sprint north of 1100 occurred in the first hour and then swiftly atrophied as the U.S. dollar reversed earlier losses. Here's the customary 10-day chart:

Note that the MACD, Slow Stochastic and Relative Strength Index are all generally inconclusive or ambiguous.

This evening's post shall be abridged, and I will just add that the Vix performed quite unusually today, rising in the midst of overall market strength -- positive news for my calls, which I continue to hold. Generally there is a negative correlation between the markets and the Vix. And I do apologize for not supplying a chart tonight -- or even further information about this elusive entity of the Vix. To my knowledge, specialized software is generally required to obtain charts of asset classes beyond simple equities, and I haven't the stamina to drill around with screenshots from my own trading platform, thinkorswim from T.D. Ameritrade. That said, I shall endeavor to provide further information posthaste.

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