Smoking Securities

Half Baked High Finance

S&P 500 ($SPY) Breadth and Risk

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bpspxvix090316editThe uptrend has yet to end, but I traded FAZ as the financial sector faltered this afternoon. Though the above chart doesn’t show it, there is a good deal of resistance in the S&P 500, and some horizontal consolidation could be in the works. Investors should remain cautious due to the meager number of rising stocks amidst above average volatility.

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Written by chucklesamadeus

March 16, 2009 at 4:52 pm

Posted in BPSPX, VIX

Tagged with ,

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