Wednesday Weeversal

As I sit and watch my Braves do all they can to blow their season, and after a reversal from Tuesday's highs to Wednesday's lows, I figure it was a good time to take another look at where we are to distract me from the inevitable down fall of my favorite baseball team. But I digress...

Charts below are the S&P, Nas Comp, $RUT, and VIX. The major indices failed at their 50-day and the $RUT never even made it that far, as has been noted in earlier posts. The $RUT has lagged this recent bounce. The VIX looks bullish if it was a stock. Unfortunately for stocks, it isn't a stock. Not looking to good for the market, and failure to hold recent lows will possible bring some issues for stocks with it. Depends on where we are when we get there, if we get there.

Breadth is still not promising for swing trades from the long side. With the high volatility, day trading is still the name of the game, and remaining in cash otherwise. This has been a profitable formula last couple of months so I will stay with it until Mr. Market decides to favor that strategy.

Good luck the rest of the week, here are the charts: