Support and Resistance, Dow, Nasdaq, S&P500, VIX

The VIX gapped lower Wednesday to below the January low. This tells me and you can look for yourself and see that it is a bit the above levels hit in Y’s 2004, 2005, 2006, and 2007.

The US market was in Rally Mode the whole time, hence low volatility does not always mean low stock prices or that a corrective sell-off is coming.

The fact is that your the long term, when the VIX rise with the market it begins to get dicey.

Remember the US economy topped out in Y 2007, and the struggle began. Nevertheless, stocks continued their move North, and so did the volatility (VIX).

In the near term, the low volatility behind the 6 week run perhaps indicates a short term pullback, not a correction, the trend is North and the trend is your friend.

The Sentiment Indicators

1. VIX: 16.97; +0.35 2

2. VXN: 17.87; +0.63

3. VXO: 16.51; +0.33

4. Put/Call Ratio (CBOE): 0.97; +0.2

Chartists Plot Your Points

DJIA: Close 10,741.89

Resistance:

NIL

10,963 is the July 2008 low

Support:

10,730 the January 2010 high

10,609 the Mid-September 2008 interim low

10,496 the November 2009 high

10,430 the 50 day EMA

10,365 the late September 2008 low

10,285 the late December consolidation high

10,120 the October 2009 high

9829 the September 2008 closing high

9918 the September 2008 high

9855 the early September high in its lateral range

9835 the late September 2009 high

9779 the 200 day SMA

S&P 500: Close 1159.90

Resistance:

1185 from late September 2008

1200 from the July 2008 low

Support:

1156 is the Sept 2008 low

1151 is the January 2010 high

1151 the 10 day EMA

1133 from a September 2008 intra-day low

1119 is the early December intra-day high

1120 the 50 day EMA

1114 is the November 2009 high

1106 is the September 2008 low

1101 is the October 2009 high

1084 September 2009 high

1078 is the October range low

1070 is the late September 2009 high

1051 the 200 day SMA

NAS: Close 2374.41

Resistance:

2382 resistance from 2008

2415 high from 2008

2453 the August 2008 high

Support:

2370 resistance from early 2008

2360 the 10 day EMA

2320 is the January high

2319 the September 2008 high

2292 a low from January 2008

2273 bottom of January 2010 lateral high

2278 April 2008 lows

2273 the 50 day EMA

2212 the July 2008 closing low

2205 the November 2009 high

2191 the October 2009 high

2177 a low from March 2008

2169 the March 2008 closing low: Double Bottom

2168 the September 2009, intra-day high

2167 the July 2008 intra-day low

2155 the March 2008 intra-day low

2143 the October 2009 range low

2099 the mid-September 2008 closing low

2099 the 200 day SMA

THE HOT LIST

German Stocks Hot List Bolser, Mingo Bay