If sharks we're jumping at their backsides, Bears wouldn't touch the water. That's what is happening out there again today. Bears are running for the bushes again, covering their shorts at the top of my range, and the VIX tanks for a -4.5% down day.
The reversal in the VIX is a bullish and material one that should be respected. Breaking down and closing below my critical support level of 21.49 was today's noteworthy event, closing at 20.18.
Look for the sharks to be jumping at anything that has short interest below that major "Trend" line of resistance.
KM
The reversal in the VIX is a bullish and material one that should be respected. Breaking down and closing below my critical support level of 21.49 was today's noteworthy event, closing at 20.18.
Look for the sharks to be jumping at anything that has short interest below that major "Trend" line of resistance.
KM
- VIX Breaking Down Through 21.49
(Chart Courtesy of Stockcharts.com)