Market Overview Jan 14

Overview:
What a crazy day, bounce back from a drop of over 1% in the over all market, like it almost never happen yesterday. This has change my view in the short term from "getting bearish" to "neutral". A reason behind the change, there is no follow through in today session from yesterday at all with that nasty drop. I am not bearish or bullish yet in the short term, because the volume isnt there from the bounce today and the MACD has not cross over in a few leaders, so be careful if you want to go long here. Please use stop if you thinking of going long. Yesterday low in my view is a good stop for short term trader if you went long yesterday's low.

Chart attack (Only posting charts that I view is critical enough):

See the DIA chart, the MACD and volume isnt favoring the upside at all in the short term. Will need further data to confirm getting bullish. 

See SPY chart, the MACD has not cross back over yet, so not getting bullish in my view or getting bearish still, so more like neutral at the moment for the short term.

See the VIX chart, on the MACD yesterday it almost confirm bearish view, hence the getting bearish on Jan 13 2014. But with today's bounce in the market, it override the "getting bearish" view in the short term, back to neutral to bullish view in the market in my opinion

See the NYMOT chart, MACD has not confirm getting bullish view.


Feel free to provide me your view on the market. :)

Short term: Neutral (with bearish bias until bull proof themselves)