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The next few days of news ( PPI, CPI..) will be very important in determining the trend direction of the VIX. I wonder if the Big Boys will still be upset with Ben. With the low volume rally, if the market can't pull itself up or starts a downtrend, many TA's will be eyeing a possible Head and Shoulders pattern. But there looks to be some upside room, and it may take a while before any right shoulder top forms looking at the NASDAQ. http://www.tsptalk.com/mb/showpost.php?p=136663&postcount=43

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http://bigcharts.marketwatch.com/advchart/frames/frames.asp?symb=VIX

http://stockcharts.com/school/doku...._analysis:chart_patterns:head_and_shoulders_t
 
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vectorman said:
No, I'm not saying that. But the market is what it is. No matter how much I dreamed or said the market will come back up in 2001 and 2002, the charts clearly indicated ( using MA, RSI, MACD, etc...) problems in the market. Depending on your timeframe, if you dollar cost avg like Birchtree, it doesn't matter what the market does because it will eventually go up. But time is you biggest obstacle. Just an added note...clester and I are great buds, I wasn't taking a shot at him. We talk about this stuff all the time.:)
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Ok thanks with clearing that up. It is interesting with all that though.

No problem with Clester either. LOL Had not even concerened myself with those types of things you are getting at.

Anyhoo, thanks for all the chart info and all. Good stuff.
 
Any time the VIX moves below the 89 day SMA Bollinger band, we've had some nice bull moves.
 
vectorman said:
Why recommend selling now?
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Brokers are incredible aren't they? Sell recs mean it's time for the dumb money to sell so the smart money can load up without causing a drastic uptick. Of course, a buy reccomendation is just the opposite.
 
SPX Dead Cat Bounce? I don't know. SPX broke below an uptrend support line and is today back testing to get back above it. The MACD had a bearish cross-over and showing a slight down trend. The RSI slipped below its uptrend and is now back testing to get back above it. 50 day MA is below the 200 day MA. There is still a gap that may or may not get filled. I will add, that all this is on light volume, so there really isn't any fear in the market.

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The Banking Index needs to find some support. It's about to match the correction it had in 1998. The saying is " The market is always right ". The BKX downtrend started right before the first big drop in China, and has been falling ever since. China still has not had the big crash that some had been calling for. If China were to have a crash anytime soon, it might be said the BKX index is close to factoring it in. Maybe.

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Look at that move from 1995 to the middle of 1998 - might that happen again as the Fed continues to lower rates? We could also see a nice V recovery in the financials once the dust finally settles. I've been buying the industry this week with individual stocks looking for good dividend income for reinvestment purposes.
 
IMO the market is setting up for a move higher soon. The VIX has filled a gap from Nov 28th, and bounce back from upper resistence. There is a 'gap up' from Dec 28th that may get filled soon. The STO is heading down, and the RSI may cross below 50. All this means the market going higher at least short term.

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