Options and Stock Market Technical Chart Analysis for June 8, 2009 by Idan Koren

Check: www.stocktock.com Today's action in the markets reflected EXACTLY what i predicted, as we continue to trade in my symmetrical triangle with a few fakeouts here in there. Today we formed a fakeout to the downside that had an inverse head and shoulders pattern, and as I stated, you have to wait till we break 92.80 or 923 on the SPX for us to truly get bearish. We then went ahead and put in a fakeout to the top of the resistance of the triangle and then fell down to towards the close. I added to m shorts at the resistance of the triangle and took profits early in the day when we tested support. I expect continued choppy action until one side gives in. I look at tons of different charts that support the same general idea such as the XLF, SRS and also the SDS (not shown in video due to time constraints). I also bought some DZZ, which is short gold as a great trade. And I also look at the VIX and GS as indicators of where we're headed.

Category:

Education

Tags:

• 08
• 09
• 8th
• 9th

[XBlackBlueShooterX]

@XBlackBlueShooterX oops wrong video xD

[XBlackBlueShooterX]

wel the opening is like 9 sec

and ur video is 2:51

take the 9 sec off

then its 2:42

stil to much it must be betweenn 0:30-2:00 minutes

[badboyardiedem]

great stuff idan ,

cheers, great charts

[zozo71zozo71]

very good.

also look at the MACD of the VIX

i will continue to check it.

if i see the MACD (of vix) will stay strong then i will go short