2007 all over again

FX:SPX500   S&P 500 Index
260 4 9
There are several similarities in the recent dip and the subsequent recovery to the one in Q3, 2007. Top to bottom are presented:
1.- The S&P500             , which has achieved a marginal new high after the dip.
2.- The VIX             going above 30 for the first time in years, and never going back to the previous complacent levels even on a new all-time high.
3.- Notice how the last dip took S&P500             below lower Bollinger Band for the first time in years.
4.- Number of stocks above 200-day average ( MMTH             ) below 30% for the first time in years. And then failing to regain fortitude when the index is making new highs. Most stocks are already in a bear market.
and 5.- A descending resistance trendline in RSI . While in the weekly chart it seems to still have room to the upside, last Friday ended on a perfect hit in the daily chart . This backs the idea that the drop will start sooner rather than later.
We need to monitor if the chart would be similar the trending chart after 12/03/2007. The fed is controlled the market now. If the market drops 20%, the fed would QE again, I think.
Don't be to bearish.
Looks interesting. Man tell me did u wrote a VIX indicator or u found it in standard library? Can u help me?
Lynx szczeepan
Just write "VIX" in the symbol box and you should see it. It's easier to spot in the "Index" tab.
Agree, IWM will give up hopefully next week unless Europe announces another QE or Obama and yellen announces something crazy
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