Another day, another... The VIX at 11 today again, market volume goes up a bit ahead of weekend, although the market is neutral but that's due to expiration - they lifted the SPX to 950 and that's where they will try to keep it. The 11 indicates that there will be a low soon, the 12 needs higher levels, the 13 not necessarily. So we need to have a close eye on the markets, since the forces are pulling all strings to start a rally. For my taste, too many puppets on TV are calling it pretty much the same as those who said so on much higher levels for wrong reasons. But we will get a low soon and I still expect it will be at substantially lower levels. The VIX puts me on alert though
Friday, October 17, 2008
VIX technical outlook - market update
Another day, another... The VIX at 11 today again, market volume goes up a bit ahead of weekend, although the market is neutral but that's due to expiration - they lifted the SPX to 950 and that's where they will try to keep it. The 11 indicates that there will be a low soon, the 12 needs higher levels, the 13 not necessarily. So we need to have a close eye on the markets, since the forces are pulling all strings to start a rally. For my taste, too many puppets on TV are calling it pretty much the same as those who said so on much higher levels for wrong reasons. But we will get a low soon and I still expect it will be at substantially lower levels. The VIX puts me on alert though
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