Steve and I read the $Vix a little differently, I like to see
two days out side the Bollinger Bands and then a pull back inside
to signal a trend change. Yesterday not only did we get that but
the Vix also drew a bearish Railroad Track pattern that gives a
target of $16.85 which is bullish for the broad markets. Also, this
is a three day weekend which is usually bullish too. So, becareful
with shorts and play the long side today, imho.
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RRT on $Vix
Posted by ditch on 17th of Feb 2012 at 08:30 am
Steve and I read the $Vix a little differently, I like to see two days out side the Bollinger Bands and then a pull back inside to signal a trend change. Yesterday not only did we get that but the Vix also drew a bearish Railroad Track pattern that gives a target of $16.85 which is bullish for the broad markets. Also, this is a three day weekend which is usually bullish too. So, becareful with shorts and play the long side today, imho.