Replies to post #7128 on The TradingEdge

[rimshot]

inverted VXO smoothed with the 8-day ema, and SPX daily closes above the main chart body (chart by "mss")

because VXO is inverted, the current location above the yellow tl is a violation of the rising bottoms tl in a smoothed VXO which is not inverted ... bullish for the SPX price action while this VXO configuration prevails, but a caution about possible extreme that could easily reverse

http://stockcharts.com/c-sc/sc?s=$ONE:$VXO&p=D&yr=1&mn=6&dy=0&i=p82675472712&a=159907575&r=5443

[rimshot]

daily VXO low was 16.16 vs. the 15.99 horizontal shown in the prior chart post

bulls are not going to want to see an immediate or strong reversal in the VXO going into the OPEX event of next week

chart repeated below, but see the prior post for two other charts related to SPX:VXO ratio

[rimshot]

SPX and VXO-related charts authored by "mss", and he has granted permission to share:

see the "reply-to" post for other VXO charts

*** his analysis comments to me on May 1, 2010 for a track-record reference - (My analysis suggests we will go much higher---but from where? Sticking with the SPX $1170-75 bottom and $1235-40 high, until I get different data.)