Minutes ago, at 3 PM EST, the SPX:VIX ratio moved above 35 verifying the broad market bull move and indicating that a large up day is on tap today. The market bulls are in full control now and a recovery rally is under full steam ahead--as long as the ratio stays above 35.
Note Added 4:00 PM EST: At 3:49 PM, the ratio fell back under 35, so the market bears are telling the bulls to not get too excited about today's rally. The indexes trailed off lower into the close but a big up day nonetheless. Watch the ratio tomorrow, if you see it move above 35, that will signal a huge up day on tap.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.