I analyze macroeconomic issues from a fundamental perspective, and I analyze market behavior from a technical perspective. Original macroeconomic analysis can be found here and both macro analysis and commentary can be found on my Caps blog. If you like or appreciate my analysis, please add yourself to my Following List

Wednesday, October 14, 2009

Did The VIX Bottom?

Here are my last 2 posts on the VIX: VIX Update and VIX Thoughts to Accompany a Few Count Options

Something didn't look right on my last chart, so I went into the 5 minute chart. And I can count a complete 5 wave move down.

This means the VIX may have bottomed. I think it is very likely. But we need to see a strong impulsive move up from here to help confirm. Also to be aware that corrections can start with impulses. But a very would sign would be a move back above 23, a retest of the the long term (16 year) S/R line and then a continuation up.

blog comments powered by Disqus