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.


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?


TJ 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.