Soybeans, technically, should be heading significantly lower in the short term. With the confirmation today of the head and shoulders top, the market should plummet by 8 - 9% by year end. This will put the soybeans smack down at year lows. The pattern took about a month to develop and should take about that long to fully unfold. However, this is a scared market...
The VIX or Volatility Index looks like it has found some support in the short term. In reality, the VIX acts very much like a 30(ish) delta S&P 500 put. It is not exactly the fear index all the talking heads make it out to be. 98% of the time it is higher when the S&P is lower and vice versa on the S&P rally. The VIX seems to have bottomed at 13, trend line...
The VIX or Volatility Index looks like it has found some support in the short term. In reality, the VIX acts very much like a 30(ish) delta S&P 500 put. It is not exactly the fear index all the talking heads make it out to be. 98% of the time it is higher when the S&P is lower and vice versa on the S&P rally. The VIX seems to have bottomed at 13, trend line...
