Wonder can you post a VIX chart,here is the analysis. BTW, someone is going to jail for insider trading on CFC today. Funny thing I was in the Banc of America Investment office today here just outside of Boston. VP I was with never said a word,Grrrrrrrrrrrrr......
Nice two day bounce as I predicted, I am SALIVATING over an X put entry. Cheers my friend.
The VIX continues to follow the path annotated earlier this week, finishing a nasty multi-month Symmetrical Triangle pattern, with horrid prospects for the stock market over the next 4 to 6 months. The direction that an index traveled prior to this particular triangle pattern occurring is almost always the direction that the index will travel leaving the pattern. Because the pattern is large, we believe the VIX is headed much higher, perhaps into the 40's. It currently sits around 23.00. The VIX moves inversely to stocks. A sharply rising VIX means sharply diving stocks.
Short-term, the VIX pattern needs to drop to about the 19.00 to 20.00 area, which should represent the end of the current rally. This could likely occur late next week, around our coming phi mate turn date. Two enjoyable rally days are over, and every second of the next week's move must be appreciated.
It would appear we are in the midst of a stock market crash that started at 14,200 in the Dow Industrials in October 2007, and is likely to continue to at least 11,500 during the first half of 2008. It could go lower. That target comes from a confirmed Bearish Head & Shoulders Top pattern. No guarantees, but risk is higher than normal over the next several months.
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