The weekly VIX chart shows clearly that a bottom is reached and we are about to rise toward the 50/55 area soon. Markets have been in quite a strong pullback from almost 90 down to 35 and we are in wave 5 of bigger 3. Wave 4 up is imminent actually might have already started. NDX is in a similar count as it also has entered week 8 and since the Tech is the leading force on the upside. The stress test results and the Swine Flu might be the trigger points as a correction is due still worst case the start might be delayed til next week and we have a sideways week of distribution.
Tuesday, April 28, 2009
VIX technical outlook
The weekly VIX chart shows clearly that a bottom is reached and we are about to rise toward the 50/55 area soon. Markets have been in quite a strong pullback from almost 90 down to 35 and we are in wave 5 of bigger 3. Wave 4 up is imminent actually might have already started. NDX is in a similar count as it also has entered week 8 and since the Tech is the leading force on the upside. The stress test results and the Swine Flu might be the trigger points as a correction is due still worst case the start might be delayed til next week and we have a sideways week of distribution.
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