Monday 24 September 2012

Volatility a touch higher

A fractionally higher close for the VIX, and indeed the moves across the last 7 trading days have all been mere noise.


VIX'60min



VIX, daily


Summary

The only bearish aspect right now is the underlying MACD (blue bar histogram) cycle that remains ticking higher, and is set to go positive cycle either tomorrow or early Wednesday.

Until VIX is back in the 20s, all daily opening gaps higher in the VIX are to be treated with great caution.

Near term 'best bear case' target is 16/18 later this week, with sp'1420, but that looks a stretch.