SPY/VIX 1yr
SPY/VIX, 10yr
SPY/VIX, 3yr
Summary
The H/S formation - as seen best on the 10yr chart, remains an interesting chart. It would of course match up - and support the 'giant H/S formation' as I've suggested via the various monthly cycle index charts.
The SPY/VIX 3 year chart is approaching the 5.0 level. I realise the implications of such ratio levels, however, the 5.0 level has been a key level in the past few years. Will we get a significant bounce here, and put in a lower high in late May/early June?
The 1 year chart shows a clear rollover. Is this wave down a wave'4 ? - see the recent posting for the Sp'500 weekly count theory.
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*Futures are broadly flat right now, although we've seen some regular overnight 1% swings by the open.
We have another week of market nonsense ahead, it will be particularly interesting to see if the Facebook PPT can keep the stock above $38 this Monday - or even the whole week?
Goodnight...and good wishes for the week ahead.