This market continues to trade extremely thin, and that makes “making the call” here tougher than on full volume days. That said, the VIX is not confirming any of the intraday weakness that we saw in the market. The step ups of stiff resistance for the VIX are at the 46.30 and 52.61 lines (its currently trading at 44.80).
Alongside lower volatility and expanding breadth, I find myself with a more manageable range whereby I can trade stocks. The “BUY” zone is outlined below within the lines we have painted between SP500 864 and 881. Don’t buy stocks on up days – add to them on down ones. Selling part of this “Trade” up at the 915 line is where my math washes out.
KM
Alongside lower volatility and expanding breadth, I find myself with a more manageable range whereby I can trade stocks. The “BUY” zone is outlined below within the lines we have painted between SP500 864 and 881. Don’t buy stocks on up days – add to them on down ones. Selling part of this “Trade” up at the 915 line is where my math washes out.
KM
