Replies to post #133304 on SPDR S&P 500 (SPY)

[ced70]

Vxx is based off the vix not spy. most of the time you are right but overall there is not much uncertainity in the market at the moment so if you look at the vix it barely moved. if the vix spikes then you will see a move in vxx

[USDollar]

vix should reflect bets going forward not present, you know already what present is

if vix is weak (it doesn't really matter how much, no exact correlation required) it means preponderance of bets are that the market will go upward

Like anything else if one puts his head to it you can make either case (...trust CNBC megalomaniac twisters)!
In this case one can say calls were bought thus bullish expectations.
BUT
Another one can say that is bearish because a mountain of calls were sold and no sane writers from that professionals greedy gang will want them to be paid... so the market is capped

So one can easily make either case. It is very hard to know the truth. The good thing is that vix can still be used for ST where it has a history of working "normally" like I explained in the beginning.

In the end it's an art. You look at the charts and place your bets as you feel about them all, guts included...

So far vix says market is going up, but the market got overbought in just one hour yesterday so there is not much room left but maybe grinding slowly. I don't think is much stamina left.
The vix can also grind accordingly and then spike to upside. After all, vix is very low.