Credit where credit is due , heard Yardeni call for 2003 last week of December, and he said come March there would a very strong rally in SPX500 carrying it 1050 BUT that SPX500 would be 800 at EOY. I have no idea what he has said since however--it was his 2003 call.
True Zeev, VIX and VXN are making new lows but relative strength on both of them is in a steady upward slope since the end of April. There is a major positive divergence in the works on these and if anything I'd consider going gang ho long volatility. I can't understand how one could consider going long stocks in a major way after that move since March. Then again, I'm just a beginner in TA?! -GGG-
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