Option Addict | Comments Off | Yes Virginia, Stocks are Moving Higher...
Friday, August 22, 2008 at 08:12AM 
Curiously, the market is being bid higher this morning. And I am all smiles.
It's a good thing we saw it coming.
The SPX is taking in the view at 1290, only a few points away from that lower trendline we've been following over the last few months. The Dow finally took down 11,400, while the Nasty Nasdaq is sitting at an important level of resistance...

That is the 20 day chart above.
The market has been tipping its hand lately, which has led us to a few great opportunities this week.
The dollar has started off strong this morning, but is at a critical level, like the Nasdaq. I am tracking the $DXY and want to see it above $76.75 before I feel comfortable throwing more money at stocks.
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