Looking for the VIX to support today's rally technically ?
The answer is yes.
It's trading down almost 5 % today, on the back of a "weaker than expected"
Producer Price Index, down 0.5 % in March.
Upon closer analysis, the VIX climbed to 19.98 on CPI Wednesday April 12
rising right up to the "Fear/Greed Median Support/Resistance Line of 20.00
Since then, however it has fallen back sharply,
trading last at 18.15, below the "low of the high day" of April 12 at 18.25
If bullish traders are determined once again to rally the market
back to the "hang point high" of 4134.37 of April 12,
continue to watch the VIX for technical confirmation.
It is "flashing green"
on today's rally,..
up to this point, and could be poised to support a bullish price breakout,
as the KST Indicator continues to rise, confirming the rally as well.
Markets can change on a dime.Traders need to be ready. Remember that.
SPX NOON OPEN
4121.54
THE_UNWIND
WOODS OF CONNECTICUT
The answer is yes.
It's trading down almost 5 % today, on the back of a "weaker than expected"
Producer Price Index, down 0.5 % in March.
Upon closer analysis, the VIX climbed to 19.98 on CPI Wednesday April 12
rising right up to the "Fear/Greed Median Support/Resistance Line of 20.00
Since then, however it has fallen back sharply,
trading last at 18.15, below the "low of the high day" of April 12 at 18.25
If bullish traders are determined once again to rally the market
back to the "hang point high" of 4134.37 of April 12,
continue to watch the VIX for technical confirmation.
It is "flashing green"
on today's rally,..
up to this point, and could be poised to support a bullish price breakout,
as the KST Indicator continues to rise, confirming the rally as well.
Markets can change on a dime.Traders need to be ready. Remember that.
SPX NOON OPEN
4121.54
THE_UNWIND
WOODS OF CONNECTICUT