The VIX (Volatility Index) spiked up when the Libyan revolt started
to unfold.
Today, there is talk of a possible Libyan massacre today which
would be a real negative should that occur because it could end up meaning
U.S. intervention.
The other possible negative event that needs to be watched is
the Saudi "Day of Rage" that some are trying to initiate for March
11th. If this happens or develops the appearance that
it will happen, then the markets are likely to react very badly.
For Today: So, the market needs to know
that these possible dangers have subsided for the VIX to go back down to below
20. Below 20 would reflect a lessening concern about Libya
and Saudi Arabia, but 17 and below will be what is needed for the market to
regain the confidence it lost this week.
Marty Chenard is an Advanced Stock Market Technical Analyst that has developed
his own proprietary analytical tools and stock market models. As a result,
he was out of the market two weeks before the 1987 Crash in the most recent
Bear Market he faxed his Members in March 2000 telling them all to SELL. He
is an advanced technical analyst and not an investment advisor, nor a securities
broker.
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