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Something Rotten
February 23rd, 2009 at 11:08am · 1 Comment
And you don’t have to go to Denmark to smell it. When shorter-term charts fail, there’s a message there worth listening to. This market is in trouble. The fact that it couldn’t respond to the bullish signals on the 60 minute chart means this down trend is stronger than it appears. The daily VIX chart below perhaps indicates the real problem. The VIX had a net-line buy last Tuesday and the Cycle-Trap turned up the following day. The VIX is saying that market volatility is coming back. I don’t think this point should be argued anymore.
Tags: General Market Commentary · S&P 500
1 response so far ↓
1 deacon31 // Feb 24, 2009 at 8:29 am
seems a nice new moon setup except markets hate bernanke
mccl OSC fairly historical, the reading before the two you see here was -256, and summation into flat line test
http://www.mcoscillator.com/Data.html
lets see what divergences we get, as the VIX is only 50’s rather than 80’s and the volume thus far is well below oct./nov. volume on the days that made the lows
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