Posted on July 13, 2009 - by Mandy Ong

Watch out for volatility ahead!

E-mini S&P daily chart

Since the long red candle last tuesday, market has been hovering around the support / resistance 878 level. Technically it looks weak due to the formation of the head and shoulders, therefore we are comfortable to hold on to our 878 shorts from last week, with stop at 905. Lots of earnings from major companies this week, so watch out for the swings!

Source: TheMidnightStar

Related posts:

1. Vix index is on the rise and has exceeded 30 in recent weeks on growing uncertainty…..expect more volatility ahead?!
2. Trend Watch:STI looks very topish with a head and shoulders pattern
3. Time Watch – Dual List Hype