Lynx
Short

2007 all over again

FX:SPX500   S&P 500 index of US listed shares
258 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.
PaviAgrawal
2 years ago
Agree, IWM will give up hopefully next week unless Europe announces another QE or Obama and yellen announces something crazy
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szczeepan
2 years ago
Looks interesting. Man tell me did u wrote a VIX indicator or u found it in standard library? Can u help me?
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Lynx szczeepan
2 years ago
Just write "VIX" in the symbol box and you should see it. It's easier to spot in the "Index" tab.
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profitmaker999
2 years ago
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.
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