No, I don't you are missing anything… at least not on the chart. If it wasn't for the weekly chart still pointing up, I'd say the market is toast. But, it really looks to me like it wants to put in at least a few positive histogram bar in before finally rolling over.
Matching that up with the VIX is hard too do, as charting doesn't seem to be as accurate as the spx or dow. So, while I'm pretty confident that we will see the FP of 107.35 spy next week, I'm not absolutely sure that the market won't rally back higher from that level, and put in a higher print.
We'll just have too see what the week chart shows by the close this Friday. If I see a big negative histogram bar, that's deeper then last week, then I'd probably say “yes” the high is in.
The VIX is definitely ready for a breakout, but that doesn't mean it won't backtest it later… allowing for a move down to 107 first, and then a rally higher in the market. That VIX should pop out of that falling wedge sometime next week for sure.
I see a bearish engulfing candle on $RVX, and a similar candle on $VIX. These tend to be very powerful (c.f. the 3rd week of May and the 2nd week of June) so I held on to my long position.
LOL, ( shut your mouth, not shut up ) is one of the phrases. Hey! Where'd this hand gun come from? I guess I can't even type, shut your mouth….just kidding around. and thanks Red!
I tried to find that cemetery on line with many different search engines but they buried it good, just like the people buried in it… LOL.
Have a safe 10 days, and try not to take any unknown phone calls. You might just receive that coded phrase to trigger your programing… to do what, I don't know? He He He
Hi Red, my last transmission, will be out of commission, for 10 days or so. Chart ESI ( catalyst for DV,UTI,COCO,CECO, APOL as well.) http://zstock7.com/
hey Red, some of my old classics…..
The Five Horsemen of the Apocalypse (Good charts, please visit and comment)
http://oahutrading.blogspot.com/
I have my own version of the VIX on there…..check it out.
No, I don't you are missing anything… at least not on the chart. If it wasn't for the weekly chart still pointing up, I'd say the market is toast. But, it really looks to me like it wants to put in at least a few positive histogram bar in before finally rolling over.
Matching that up with the VIX is hard too do, as charting doesn't seem to be as accurate as the spx or dow. So, while I'm pretty confident that we will see the FP of 107.35 spy next week, I'm not absolutely sure that the market won't rally back higher from that level, and put in a higher print.
We'll just have too see what the week chart shows by the close this Friday. If I see a big negative histogram bar, that's deeper then last week, then I'd probably say “yes” the high is in.
I would agree with you, if I saw a divergence on RSI or MACD. But I don't. Am I missing something?
The VIX is definitely ready for a breakout, but that doesn't mean it won't backtest it later… allowing for a move down to 107 first, and then a rally higher in the market. That VIX should pop out of that falling wedge sometime next week for sure.
I see a bearish engulfing candle on $RVX, and a similar candle on $VIX. These tend to be very powerful (c.f. the 3rd week of May and the 2nd week of June) so I held on to my long position.
LOL, ( shut your mouth, not shut up ) is one of the phrases.
Hey! Where'd this hand gun come from? I guess I can't even type, shut your mouth….just kidding around.
and thanks Red!
Nice link, thanks. Robert Kiyosaki is a wise investor.
I tried to find that cemetery on line with many different search engines but they buried it good, just like the people buried in it… LOL.
Have a safe 10 days, and try not to take any unknown phone calls. You might just receive that coded phrase to trigger your programing… to do what, I don't know? He He He
Hi Red,
my last transmission, will be out of commission, for 10 days or so.
Chart ESI ( catalyst for DV,UTI,COCO,CECO, APOL as well.)
http://zstock7.com/
Robert Kiyosaki is Spot on many of his December 2009 calls. Good advice and worth reposting. FYI
http://finance.yahoo.com/expert/article/richric…