The VIX move was quite spectacular. We started near the lower BB and finished well above the upper BB. That type of move does not happen often and it does not bode well for the future of the market.
BPSPX:CPC 20ma looks to be curling over. I would short any bounced up on Monday or Tuesday. Confirmation of the move down requires the 20ma to cross the 50ma from above.
The VIX visited the lower BB. I expected a retreat to the 20ma, but the move to the lower BB gives more credence that the next 4-5 days will be down in the market.
The 20ma on the BPSPX:CPC has rolled over and the indicator has been going down even as the market has moved to new highs. I think our top is rounded.
Sitting at the 78% retrace level. It has been a huge march up since last September.
VIX printed a huge white candle. So is it a move back to the MA before a huge move up?
BPSPX:CPC may have turned over. We will need a few more days before we can tell for sure, and even more time before the 20 crosses the 50.
Wow...look at that move up from late August, there is barely any retrace. Here we are getting ready to move into the New Year and the market as a whole is peaking out. Volume is dropping, but then again volume is always low around the holidays. We should see a good retrace 1st quarter, but is it a retrace or the beginning of P3 (is it ever gonna come).
VIX spiked much more than the market and is now diverging. Option volatility is now rising as more people buy insurance at these lofty levels. Still its low and no one is really scared.
BPSPX:CPC's 20MA is still pointing straight up. It has managed not to curl over in these past 4 months, which is quite a feat.
Was that finally a reversal candle on the VIX daily? VIX is in nothing to worry about range...from which typically "Oh craps!" are launched.
I waited a whole week for the BPSPX to turn...and it did not...everyday we maintained above the 20ma. I am looking for a down turn still, but with the holidays upon us this is typically an up/maintain level period.
