Tuesday, June 09, 2009

Technical Picture - VIX versus S&P

The S&P did very little today despite the 5% drop in the VIX. Keep an eye on both charts. If the VIX finds support and bounces at or near the blue line segment, a breakout on the S&P could get foiled. Failures, of course, are great opportunities for fast moves in the opposite direction.


Agchem looks poised to attempt a gap fill.

2 comments:

Nicholas Ruiz III said...

great blog...appreciate your posts...you have to admit, however, that the trend in the VIX is pretty clearly downward...do you see an impending reversal?


NRIII
http://intertheory.org/blog

Jamie said...

Thanks Nicholas,

Just an observation regarding the VIX because yesterday's action seemed odd. On the open this morning, the VIX tagged $27.00, S&P gapped up and fading in the opening range.