Posted by macksurf on 11th of Jul 2011 at 05:39 pm
I don't think that the VIX is a very good indicator anymore.
Definitely the VIX closing outside and then back inside the BB's is
still a great SPX buy signal, but IMHO the $Dollar is the tail
wagging the dog right now.
I totally agree Mack, and it looks like it would take till the
end of the week to do that at best unless we see a crash. Otherwise
I suggest everyone stay on the sidelines till more indicators give
valid signals. If you are short, great but take some profits off
the table as these top out.
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VIX
$trin & $NYAD
Posted by macksurf on 11th of Jul 2011 at 05:39 pm
I don't think that the VIX is a very good indicator anymore. Definitely the VIX closing outside and then back inside the BB's is still a great SPX buy signal, but IMHO the $Dollar is the tail wagging the dog right now.
I totally agree Mack, and
Posted by ditch on 11th of Jul 2011 at 06:52 pm
I totally agree Mack, and it looks like it would take till the end of the week to do that at best unless we see a crash. Otherwise I suggest everyone stay on the sidelines till more indicators give valid signals. If you are short, great but take some profits off the table as these top out.