From a long-term perspective, some very important support lines have been taken out and a laundry list of tools (high yield breakdowns/ currency spreads and more) have been suggesting Capital Protection was a good idea WEEKS AGO!
If you are short-term investor or looking to buy/sell at extremes….A “Freaky idea this Friday” morning is at hand below!
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NDX 100 and the Mid-Caps are testing their 2007 highs right now, while the 500 Index is testing shorter-term support as well, all at (1).
The decline of late and I suspect the news out of Greece has created a good deal of concern/fear in the investment community, which is reflected in the very high VIX reading at (2).
Game Plan…SHORT-TERM/ACTIVE investors can pick an index (NDX/ MDY/ 500) and go long with a stop a couple of percent below these key support lines!
The Dollar 20-EMA is a hair from crossing above the 50-EMA & has crawled out of a decending wedge…be ready to pop smoke and get gone