vix weekly chart

vix weekly chart

the vix weekly chart got up to resistance and then positive news that the US is not not likely to default and VIX got squashed. This gave much life and vitality back to the futures.

We have OPEX next week, and technically OPEX tends to make the VIX sell off. So we shall see what happens next, we also have the debt ceiling agreement to be made on FRIDAY or the US will go into DEFAULT. A big week awaits, hope this helps.

vix weekly chart

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Wild Prediction - 1500 Coming!

Today is the 14th of December which means Christmas 2012 will be here in 11 days. Wow! This year has really gone FAST hasn't it.

Some of my subscribers were asking for a bigger chart of the S&P chart and so I have blown up my previous chart below. 

I am going out on a limb here, but I think it is possible we will see 1500 soon on the market. Yes! you did read that right! I said 1500 for many obvious reasons if you look back at our previews posts!

We warned a drop could be coming first, and that is what has happened over the last few days. This smaller drop could continue, be we feel it is just a smaller blip move before a larger upward thrust is coming later and into early 2013. 

If we having a look at the SPXA50 market breadth chart you have can notice we have rallied quite nicely off the BUY ZONE in november. This rally was quite violent and quick and after such a move we might like to cool down and sell off a bit. (see above chart)

We are only just past half way, and again that is confirmation that if the market takes a short term break,  there is plenty more room on the upside. And that is also another confirmation that 1500 could be coming on the S&P 500 soon. 

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Ping Pong Game.

The s&p got down to the lower support after a trend down day last Friday, and today we bounced and it seems to be holding. Seems to be a bit of a ping pong game the last few days, leading up to the November elections. Looks like Obama is going to get in, I think.

As you can see, the tick data after fridays downwards day was hinting that things were a bit OVERDONE and a bounce was due, and that is what we have so far. There is still some room to move on the upside in the short term!. 

There are other indicators that I share with my VIP clients that is suggesting a NICE move is coming soon. To the upside, or downside???, I will let you be the judge of that, but I like what I am seeing at the moment, and things sure are setting up nicely.



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Bears Won Today

Well the bears had a ball today! As was expected the Transports have been leading the charts and warning us that a day like this was in the works for weeks now. So I am not surprised.

Have a look at the hourly chart on the S&P it was pretty much a bearfest day from start to finish!!

With the TRIN over 2, and tick heading to the oversold area, I do think that ( Level For VIP MEMBERS ONLY ) level is coming very soon.  But patience is required.


On the daily chart the S&P is still within the upwards channel, but after today we zoomed back down and stopped right at the bottom of the rising channel. So now we are at a make or break level. The next few days will be interesting!!!!

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