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VIX Good follow through, confirming the strength for the rally in the markets.
VIX June 24th, 2022
The VIX has been consistently singling bearish for some time. This signal in itself is not the all in all, but it does help better confirm the more bullish move that I’m seeing on several stocks (setting up) recently
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.
The overall market hasn’t been all that exciting today …yet this index continues to show that fear is lessening and is bullish for stocks.
Hangman, potentially indicating a reversal. Confirmation is still needed.
The fear in the market is real. Only question now is, how long before it goes away? We’ll take this one day at a time …and as always and be updating daily, during market hours to subscribers.
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