Friday, July 24, 2009

Yesterday was WOW...

If the red trendline on the VIX breaks then we are looking at support around the dotted tourquoise lines. Even with the massive upday yesterday, the VIX actually increased. If Daneric is right with his "Bullishness" analysis, then the turn will not happen till about 105 on the SPY and the VIX will likely be in the teens.
This chart is leading me to look for an exit on my shorts on the next pullback.


Anonymous said...

Hold on to your shorts - just about there!