Monday 13 August 2012

10am update - VIX reversal

Despite marginal opening index declines, the VIX has fallen 4% lower, almost breaking into the 13s. Note that the low in March of 13.66 However, as I type, VIX is recovering, and currently showing a classic hollow red reversal candle - 'often', a sign of a floor.

With no real news due until tomorrow, no major moves should be expected though.


VIX,daily



sp'daily5b


Summary

A quiet start to the week, I do expect things to get a lot more active with each successive day. Its opex on Friday, so...expect some chop!