The ratio remains under 68 since about 10 AM yesterday. This is bearish. Despite the early euphoria today for the markets, this ratio should be above 68 if the bulls truly want to run. Markets should be in sell mode as long as the ratio stays under 68. Interestingly, all week long the ratio danced above and below 68 but currently the print is 65.19, three points under the critical 68. Watch this closely today and view the markets negatively unless the 68 level is reestablished. Current print 65.01, losing the 65 level now?
Comment Added 10:20 AM: A half hour after the above post, the $SPX:$VIX Ratio is now 60.67. Bearish. Watch the SPX behavior at 1306.50, if it holds we move sideways, if it fails, we see 1298-1300 in short order. SPX print is now 1308.55, only two points above.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.