Wednesday 23 May 2012

VIX...still in an uptrend

Despite the hyper ramp in the equity market in the afternoon, the VIX remains in the broader up channel, on ALL cycles.


VIX'60min



VIX, daily



VIX, weekly


Summary

So...unless we see VIX break below 21..and more definitively <20, the VIX is still trending UP. The daily and weekly cycles are strong evidence for the general bearish outlook.

If the market drops Thursday, the first main target on VIX is 27. That would probably equate to sp'1280.