Tuesday, January 5, 2010
Bullish and Range Bound
After yesterday's boring start to the year, the charts are tightening up. Volatility on the VIX is nearing two year lows. Which leads me to believe that there is very little interest in the stock market right now. People have made there bets and we are in a wait and see mode. That means stick with the trend until the trend changes. Unless there is a explosive move in the trend. I am trading very small with low expectations. Take what you can get and be very patient. Let your prices come to you. Resistance is now at 113950 and support is at 110350. No big positions for me unless they trade those areas.
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