It is one of these times, where the great rally (due to another QE of many) doesn't seem to stop
or does it ?
SPX seems to be trapped in a rising wedge with accompanied negative divergence.
It may run out here right now with the break of the up trendline, it may make another new temporary high,
nevertheless , the air gets thinner... nearly as Felix Baumgartner's attempt today, but his flight into very thin air was stopped due to high wind.
The RSI after having not responded with a higher high on the latest S&P price move, seems to have broken its own trendline to the downside.
Well, I am not only short S&P, but also long VIX... Volatility is very cheap here and a correction is imminent... which usually after this very nice broad rally in global markets will be mirrored with higher (spiking ?) vola.
or does it ?
SPX seems to be trapped in a rising wedge with accompanied negative divergence.
It may run out here right now with the break of the up trendline, it may make another new temporary high,
nevertheless , the air gets thinner... nearly as Felix Baumgartner's attempt today, but his flight into very thin air was stopped due to high wind.
The RSI after having not responded with a higher high on the latest S&P price move, seems to have broken its own trendline to the downside.
Well, I am not only short S&P, but also long VIX... Volatility is very cheap here and a correction is imminent... which usually after this very nice broad rally in global markets will be mirrored with higher (spiking ?) vola.