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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sp 500 index chart - latest sp 500 index chart

sp 500 index chart

The sp 500 index chart below is not moving much at all, infact we could say the market right now is producing a flat top, or in limbo (e.g. not moving much) and the bulls are trying to reach new highs. +

Remember tomorrow (FRIDAY 14th MARCH) is OPEX day and they can tend to run things up in opex weeks. However When I am trading OPEX I always expect the unexpected as over the years I have seen some rather bland action, or the opposite to that, very wild and crazy moves. Tomorrow we shall see which one we shall get. The sp 500 index chart is not really telling us too much yet! Can you feel the excitement :-P

The sp 500 index chart below shows us the market is trying to decide which way to go. The bulls and the bears are both fighting, like a tug of war, so far there is no clear winner. But we should have some more clarity in the next few days.

sp 500 index chart

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One More Day In Opex

Well we got our rally, and it was a NICE ONE!

So much so, that the hourly chart is now overdone to the upside (overbought) and we would not be surprised to see some sort of a retracement in the next day or so.  

Remember we are in OPEX (options expiry) this week, and with one more day, statistically the friday of January OPEX's tend more to be a RED day. 

That also goes along with the hourly charts also. We shall see.

hourly chart

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Significant week - Significant week for market.

This will be a significant week for the market, as OPEX is apon us. 

The S&P  broke out of the bull flag and looks like it wants to work its way higher. 

I will say this, $22.8 billion dollars poured into stock funds last week alone, yes, you did read that right I said $22.8 billion dollars. WOW!, that is the beginning of a trend you will see continuing because the fed has stepped up and said QE purchasing may stop this year. I do not know if that is the case, or they are just playing games, however, many people with 401k's and mutual funds have been forced to look at investing in the stockmarket. That is what you saw happen last week.

So this week will be very significant. 

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Market Update Jan

The S&P finally broke its bullish flag, and technically ever if we see some profit taking, there could be higher prices coming on the S&P.

This week is OPEX week, so things could get a bit erratic, which is normal.

Here are some stats,


1/14: OE Monday, Dow up 15 of 20
1/18: OE day, Dow down 10 of 14
Jan OE week, Dow down 9 of 14



So could be a bit of a topsy turvy week.

bullish flag?

Interesting enough, the summation on the weekly chart is suggesting higher prices are coming on the market. We are at 735, however there is room to move to the 990's so breadth remains positive.

summation index

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Say Hello To Opex

Well we only have one days trade left before OPEX week is over. If you are not aware 73% of the time, OPEX week is usually bullish or the market closes on average GREEN! So there is no surprises if we get a little more up.

But if you have been reading our previous posts, you would not be surprised. We have been fairly bullish since the MIDDLE OF NOVEMBER - SEE HERE!

The market breadth and leading indicators we choose to use, have been saying buy the dips, and that has been spot on!

Have a look at the russell since our middle of november call. LOL. There has been a very nice run up, and only a few red days inbetween. WOW!

As you can see, the russell is in a nice upwards bullish channel. This week has been very good on the russell and other indicies in OPEX and our stance remains the same.

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