Keybot the Quant flips to the long side yesterday at SPX 5520. The face-ripping relief rally receives further juice due to retail stocks and chips joining the party. The VIX 14.83 line in the sand tells the story ahead. Bulls win bigtime if the VIX drops below 14.83; stocks will catapult towards record highs. Bears will stop the stock market rally if they keep the VIX above 14.83, and then introduce further selling if the chips and retail stocks weaken. The stock market path forward depends entirely on VIX 14.83. The VIX is trading at 15.41 in real-time only 58 cents in the bear camp.
Note Added Saturday, 8/17/24: The bulls win the day wrestling Uncle Vix to the ground. King Powell places his jackboot on the throat of VIX holding it below the VIX 14.85 bull/bear line in the sand (Keybot the Quant is continually calculating and recalculating the number so it fluctuates by a few pennies here and there) at 14.80 making sure that stock prices remain high to enrich himself and his wealthy friends. Don't you love crony capitalism? The drama continues Monday morning with the VIX starting trading at 3 AM EST.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.