Thursday, March 3rd, 2011
Note: if you are viewing a text version of this report, click on the
following link to see the charts:
http://www.optionstr...line/charts.asp
$SPX bounced up off its bullish trend line twice recently. Thus, the chart
of $SPX continues to remain positive.
$VIX spiked up to a peak on the chart, and thus a buy signal occurred.
As long as $VIX remains below 23, it is bullish.
The other indicators have been, and continue to be, less reliable.
The equity-only put-call charts have been distorted by the heavy
hedging activity of the past 6 to 8 months.
With the rally of the past two, the breadth oscillators are
thus back on buy signals, and are modestly overbought.
In summary, the bulls remain in charge unless $SPX drops below
1294, especially if that were to be accompanied by $VIX rising above 23.
McMillan Analysis Corporation
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www.OptionStrategist.com
(800)724-1817
