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Wednesday, March 25, 2009

The VIX factoır - technical update

VIX is in week 3 down and we still have not made the dip down below 38 to complete the daily count to 13. That will about next week latest by the week after and mark the end of wave A up around 850 SPX which managed to close higher after some profit taking during the day.
We need to dip below 40 and actually close around 38 for 1 day when a substantial correction should occur and a rise towards 50 is likely before dropping again to 40 at least may be even 35.

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