VIX Though there has been more fear in the market recently from the news on banks, mainly SIVB these bear tails indicate to me that buy pressure on some stocks seem to be actually building up. Should know more after CPI numbers come out tomorrow before the open.
VIX January 6th, 2023
This consistent rejection at lower points of resistance, since filling the gap above on December 22nd is telling me that bulls are starting to gain some traction going into this new year.
VIX October 20th, 2022
Indication of a bottom for the stock market? What some may have missed with the major indexes closing red, is that the VIX closed red.
More importantly it closed under the 20 day average. That’s the 1st time it’s done so since September 9th, 2022 I see this as bullish for the market, based on probability.
VIX August 19th, 2022
Caution Market has rallied considerably higher now and may be overextended at this point.
The VIX has not been a useful indicator (in any way) to get a read on the market for several month so it’s therefor not been updated until now. I suggest to continue to focus on the individual stocks and/or major indexes to guide you on your trades.
This simple setup worked nicely indeed. See chart just below for the setup prior to this.
This failed breakout attempt on the VIX gave us all the more confidence in our long positions this week.
