VIX,weekly
Summary
I wanted to highlight the weekly VIX.
The key aspect for a very long time has been how the VIX always fails to get a weekly close above the 200 weekly MA.
Currently, that is in the 17s.
On any basis, a weekly close in the 19s would really make things 'interesting', although I'd argue that is unlikely, even with price momentum as it is.
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Notable strength: GPRO, +3.7%.. ahead of earnings.
1.14pm Last hourly candle was somewhat spiky.. but really...even if we rally 10/15pts today, it still makes for a strong day for the bears.
Best case for the bears... a back test of 1960/65 next week..and then a much stronger down wave.
First things first though....still a few hours left of the trading month.
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1.36pm.. VIX starting to look a bit toppy.. and it sure is overbought on the RSI
Equity bulls have a chance at starting a rebound... but the day will still be a major victory for the bears.. even if 1950s.