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Monday, November 9, 2009

VIX update - general market update

The weekly VIX chart was one of the uncomplete patterns count wise and will now very likely retest the 20 level and complete the count before risng again above 30. We had to day a relative high put activity within this sharp rising markets today with ISE ratio at 119 which is a bit unusual for this market the most amazing part though is that the RYDEX dropped to 50 levels in a rising market so we even can say that some weird stuff is going on. Today was a short covering rally on behalf on phony G 20 statements that they keep up the stimulus spending. A retest of the recent highs is now the mandatory thing to do for the market to see if they can move it higher at already expensive levels.

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