It was a low volume rally and Dow opened lower but soon reversed it's loses to rally 140 point from its low.
Once again market is expected to open lower tomorrow. 12922 is key resistance on the upside, followed by 12,965. I expect a downday tomorrow.
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| Dow expected to open lower |
As said in my yesterday's article, TVIX needs to break 3.32 to go higher and today it didn't break the level. TVIX needs to break this resistance to move higher.
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| TVIX needs to break 3.32 resistance to go upside. |
Same way, UVXY needs to break 6.96 resistance to go upside. Remember VIX is still in contango, so use volatility related stocks for daily play. At current price, VXX, UVXY and TVIX is a buy.
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| UVXY needs to break 6.96 resistance to go upside. |
ARNA needs to break 10.20 to go higher. Based on the chart, ARNA is a sell.
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| ARNA has a sell signal. |
