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Here is an excerpt from our trading plan.
Today is one of those lethargic days where market didn't seem to do much, or send any decisive message. It's hard in this kind of situation to anticipate the next move because there's not a whole lot of price actions to work with. These are the days where we really need to dig into our market internals for more data.
Volatility: After rising a bit yesterday, $VIX went down today. $VXN however has been steadily marching up since the gap down at open yesterday. So what are they saying? Market is nervous, but still indecisive about really selling.
The rest of this article covers:
Dip1: support and resistance levels
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