'Recurring S&P500 buy support results in my indicators now suggesting a significant equity rally is possible. DOW cash index last 12,443' Market Outlook: http://www.elitetrader.com/vb/showthread.php?s=&postid=3238281#post3238281
Despite the recurring DOW/S&P500 buy support, sellers keep appearing and bearish daily and weekly charts slowly gain strength. Signals are now mixed and the rally I was expecting is looking undecided. Unfortunately the delayed / slowed down correction that started months ago will probably result in a sudden sell off similar to 2008.
Clarification of the Wile E Coyote correction for readers who asked: I'm referring to the price action on the sticky S&P500 chart at top of blog. It's been suspended in the air for many months just waiting for gravity to take hold...
spy -1%, VIX +10% i believe this is unusual (again excess VIX relative to SPY). don't have the numbers at hand but as i recall this does not happen very often.
Something else unusual. Market and 30 yr selling together. I smell a corpse. Probably will get sorted soon, even so, it is a sign of things to come.
not unusual, you should know that by now. after repeated vol days, vix will pop when people get a bug up their butts and buy all those puts that they did not buy as the trend started. of course i simplified it for you guys.