Hanging on for dear life Friday Dec 11th

Evening troops. Well I don't know about hanging on, but certainly a little bit of bounce in the XJO today as it tested that critical 5000 level. Volume was up slightly on average again today with a wider spread than recent days (almost exactly 100 points) but the candle sports a nice long(ish) tail indicating that some of that volume was buying support for that key 5000 level.



So we are now at the bottom of that 300-ish point range and the market has put in a decent test, but its not over till the fat lady sings of course so to get any confidence today's candle puts a bottom to the current down wave we would need to see follow-up buying tomorrow. Personally I'm adopting a wait & see approach.

I note the real Vix is up to around that key 20 point level. For my XJO Forum "A-Vix" based on posts here, I similarly have the index at the threshold of bearish territory (for number of total posts) but looking for a confirming signal (of number of Martis posts) which while rising has by no means reached the crescendo we saw a few months back. As always we await...


A final note - don't count the bulls dead yet, maybe just taking a nap...



Trade safe everyone. Cheers, sharks.