Is the market overbought now ?

24 нояб. 2019 г.

This VIX chart is a good way to gauge the market now. One can see easily that each time the price action hits the red dotted line support level, it bounce up fast and furious.

If you are vested in SPX500, DJ, etc, perhaps, you can take some profits off the table or use this VIX tool to hedge your position, i.e.. to long VIX.

26 нояб. 2019 г.

Заметка

Keep watching VIX for the trend reversal pattern. It is now at 11.9. Note - it does not need to go into the two dotted line support level before it reverse, it can do so at anytime. Chart rules are a guide and based on historical price actions while market moves based on future. Compare this chart with DJI, SPX500 and you would see (view my updated chart) the equities indices are displaying an ascending wedge which is bearish. It's getting exciting!

4 дек. 2019 г.

Заметка

26 Nov , price was at a low of 11.4, very close to the 10.4 support but not quite touching it and rebound strongly from there. Congrats to those who bought.

It now has a strong bearish candle which we expect some consolidation or southward movement, which means indices are likely to maintain its bullish move, slowly.