Something Wicked Comes This Way for anybody caught on the short side here shortly. Here's a 30-min 3C chart showing the Broadening Bottom I've been talking about the last 2 days in the videos. It looks like we've now got an inverse head and shoulders to boot. The VIX is about 15% off the March spike highs, the VXO is about 11% off and the VXN is only about 4% off as of yesterday's close. Considering the strength of the Commodity complex and the diminished representation of Financials among the Indicies weighting, I'm not surprised we haven't seen a similar spike. Had Commodities even been somewhat neutral, I think the VIX would be through the roof. I think we're ready.
Wednesday, July 16, 2008
Nothing Is Certain, But This Certainly Is Looking Like...
Posted by Brandt at 12:40 PM
Labels: 3C, commodities, momentum trading, nasdaq, stocks, technical analysis, VIX, VXN, VXO
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