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Cobra wrote:VIX collapsed on this small up day, unbelievable.
You got to believe it, it's god's work. lots of magic.
Now we're at a critical time: either we go much much much much higher from here while VIX making new all time low, or the top was already in!
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Nothing to trade today, so I'm looking at the long term SPX chart which shows the significance of support in the 1280/1295 area. Check also the close up of the same chart:
Cobra wrote:VIX collapsed on this small up day, unbelievable.
You got to believe it, it's god's work. lots of magic.
A new floor on the VIX needs to be established as this video was pointing out on Friday. Tomorrow I believe new contracts trade and we should see more accurate movement, i think.
still fighting the resistance but I think the breakout is just a matter of time.
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The interesting thing about this downtrend is that the bears are the ones seemingly exhausted and annoyed, yet the market continues to slide along with the VIX (fear). Could be meaningful, could not.
cletus wrote:The interesting thing about this downtrend is that the bears are the ones seemingly exhausted and annoyed, yet the market continues to slide along with the VIX (fear). Could be meaningful, could not.
Yeah, bears are actually nervous. Even snakes are nervous too.
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