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Tragic Tuesday Wrap Up
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Tragic Tuesday Wrap Up

by The MoleMarch 6, 2012

Per popular request I put together a wrap up video of today’s sell off session. Despite server issues I was able to somehow squeeze in a post but if you missed some of the Zero today then you definitely want to watch this clip.

Textbook trend day – ignore anything but the most glaring divergences. Use zero mark touches to play the swings and to scale in/out of positions if you enjoy this kind of thing. Otherwise, don’t overthink it and let ‘er ride!

The future is now – so don’t bring a knife to a raygun fight. If you are interested in becoming a Zero subscriber then don’t waste time and sign up here. A Zero subscription comes with full access to all Gold posts, so you actually get double the bang for your buck.

Before I run – a few more charts for my intrepid subs:
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More charts and cynical commentary below for anyone donning a secret decoder ring. If you are interested in becoming a Gold member then don’t waste time and sign up here. And if you are a Zero or Geronimo subscriber it includes access to all Gold posts, so you actually get double the bang for your buck.
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First up be advised that Mr. VIX closed inside the 2.0 BB – so no cookies for the bulls (i.e. no first step into a VIX buy signal).

IF we continue downward tonight then keep in mind that there’s a volume hole near ES 1330 – that ought to be good for some possible support or at least a little spike on the way down.

Sixty minute view of the spoos – this is your road map for the coming hours. I have pointed out possible resistance zones, each of which will increase the odds for the bulls if conquered.

I’m actually a bit skeptical about the spoos right now as the AUD/JPY is dropping lower. ZeroEdge reported today that the carry trade had detached today and I agree but I’d still keep an eye on this sucker for early signs of trouble.

Happy hunting – keep it clean and don’t get emotional.
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Cheers,


About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at various social media waterholes below.