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Impressive VIX

Recs

14

May 07, 2010 – Comments (8)

Simply .... wow.

If we are in the throes of Int 1 of P3 (which I think is likely given the events of the last 2 weeks), the VIX is definitely substantiating that opinion. For Int 2, there will be a pullback in the VIX, but I doubt it will go past the long term line of action.

ENLARGE

ENLARGE

ENLARGE

8 Comments – Post Your Own

#1) On May 07, 2010 at 1:15 PM, Option1307 (29.75) wrote:

The VIX up more than 100% in 2 weeks, super wow! Things sure are getting "fun" again!

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#2) On May 07, 2010 at 1:18 PM, lemoneater (78.14) wrote:

Yes, it has been a volcanic week in more ways than one!

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#3) On May 07, 2010 at 1:19 PM, binve (< 20) wrote:

Option1307 ,

Hey man! Yeah, the reason why I am posting this is beacuase a lot of people are still talking about the selloff in terms of an "anomaly". The VIX is saying otherwise. It has been trending up for a couple of weeks in anticipation of a large selloff. The super spike here is as suspect as the 1070 print on the SPX yesterday. But the trend is real. The VIX is hinting that this isn't just another "dip"..

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#4) On May 07, 2010 at 1:20 PM, binve (< 20) wrote:

lemoneater , LOL! You know it :)..

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#5) On May 07, 2010 at 1:22 PM, IBDvalueinvestin (99.67) wrote:

Rising VIX is always a bad news is coming indicator,

 

The etf "VXX" tracks the VIX

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#6) On May 07, 2010 at 1:24 PM, binve (< 20) wrote:

IBDvalueinvestin,

Yep.

>>The etf "VXX" tracks the VIX

I own it...

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#7) On May 07, 2010 at 1:57 PM, chk999 (99.97) wrote:

Are you an Elliot Wave guy binve?

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#8) On May 07, 2010 at 2:09 PM, binve (< 20) wrote:

chk999,

Yes I am. I am not, nor have I ever been an EWI subscriber though (I disagree with Prechter's view on a lot of topics). But I think EW is a very useful analysis tool. I have read his EWP book, which is the bible. I have been practicing EWP for over a year (and regular TA much longer than that).

Actually you might be interested in this post I wrote: Not All Five-Wave Moves Are Impulses: A Short Treatise on Elliott Wave - http://marketthoughtsandanalysis.blogspot.com/2010/03/not-all-five-wave-moves-are-impulses.html ..

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