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Still bearish

October 30, 2008
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VIX hasn’t yet turned over.  “It just CAN’T go higher,” just isn’t an argument.

SPX is still pretty dicey.  If it does somehow break to the upside of this weird formation, the target would likely be 1100 which also is around where the 50 MA will be approaching. There is something of a Bullish Divergence with the MACD lines and Histogram versus the lower low in price.

Here’s one for the gold crowd.

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