Monday, March 29, 2004

With today's decline in the VIX, it is now 15%+ below its 10-day moving average, pushing our intraday VIX.MR indicator to 0%.  This is the first time since 8/19/02 it has reached 0% and suggests the market will likely have difficulty moving through its imminent resistance at this kind of pace. 11:03:50 AM