Here we go again. SPX:VIX ratio jumps above 35 at the opening bell indicating a huge up day for the markets today. The ratio pulled back under 35 yesterday to nullify the signal but today it has the look of staying power. The market bulls are in full control as long as the ratio stays above 35.
As mentioned in this morning's missive, the utes, UTIL is bouyant, RTH is rockin', so these indicate sustained bullish buoyancy for the markets. CRB approaching 336 but needs 338 to further boost equities, thus, equities may maintian buoyancy but dramatic upside does not appear to be on tap. SPX 1204 and 1210 offers resistance above. The SPX:VIX ratio now printing 35.64 so a big up day remains on tap, keep watching this ratio the rest of the day.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.