If I had to pick a chart that looks like a bottom, it would
probably be the $VIX. I'm not ruling out that we go on a
multi-week rally, but where does the VIX go from here?
Hi kalinm, I agree with you about the VIX - it's closed below
the bottom BB for the past two days, and looks well on its way to
do so for a third time. Perhaps it wants to tag the lower of the
two trendlines in the daily chart below, which would result in a
nice pop up in the market, but then surely it (VIX) would want to
head back up for a bit?
No multi week rally IMO. It will be lots of volatility. Looks
like we have Wave A up then B down next week and C up into new moon
cycle [ just a guess].
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Wait.... what is "bottoming" anyway?
Posted by kalinm on 21st of Nov 2012 at 12:45 pm
If I had to pick a chart that looks like a bottom, it would probably be the $VIX. I'm not ruling out that we go on a multi-week rally, but where does the VIX go from here?
Hi kalinm, I agree with
Posted by isplat on 21st of Nov 2012 at 03:13 pm
Hi kalinm, I agree with you about the VIX - it's closed below the bottom BB for the past two days, and looks well on its way to do so for a third time. Perhaps it wants to tag the lower of the two trendlines in the daily chart below, which would result in a nice pop up in the market, but then surely it (VIX) would want to head back up for a bit?
No multi week rally IMO.
Posted by rbreese on 21st of Nov 2012 at 01:16 pm
No multi week rally IMO. It will be lots of volatility. Looks like we have Wave A up then B down next week and C up into new moon cycle [ just a guess].