That VIX indicator with Bollinger Bands has been discussed here
forever, most who've been here for a while should know about it.
However that said we were looking for an oversold bounce
anyway to at least form a wave B or a triangle etc, yes today's
hard gap up and bounce was maybe more then some expected so
quickly, but I expected a bounce higher, so many charts were at
their 50 day MAs and trendlines, so it shouldn't be too much of a
surprise that the market bounced today. I've been saying the
last two days to lock in some profits on Shorts and I even had some
longs.
Now we'll see where it goes from here. I still think based
on the charts that the market won't go to new highs from here, not
without more chopping around and consolidation
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That VIX indicator with Bollinger
VIX buy signal was yesterday
Posted by matt on 18th of Nov 2010 at 11:28 am
That VIX indicator with Bollinger Bands has been discussed here forever, most who've been here for a while should know about it. However that said we were looking for an oversold bounce anyway to at least form a wave B or a triangle etc, yes today's hard gap up and bounce was maybe more then some expected so quickly, but I expected a bounce higher, so many charts were at their 50 day MAs and trendlines, so it shouldn't be too much of a surprise that the market bounced today. I've been saying the last two days to lock in some profits on Shorts and I even had some longs.
Now we'll see where it goes from here. I still think based on the charts that the market won't go to new highs from here, not without more chopping around and consolidation