Wednesday, 31 October 2012

Volatility trying to confirm a bull flag

With the market reopened, it was a pretty muted day, despite somewhat reasonable trading volume, the VIX closed 4.4% higher, to close @ 18.60. The VIX is trying to confirm what appears to be a bull flag on the daily chart. First upside target would be 20/21.




A relatively quiet day in market land, somewhat interesting that the VIX managed to at least close a little higher, but it was a small gain, and we're still not even above 20.

It would be VERY useful if we can close the week with VIX >20. That remains my third red flag.

More later.