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Strategies & Market Trends : Technical Analysis - Beginners
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To: julianne carol grimes who wrote (10867)3/13/2000 2:27:00 AM
From: Michael Watkins   of 12039
 
Folks that are into market timing sometimes use VIX. I trade some index proxies and do use VIX, although I do not use absolute values for 'overbought/oversold'.

Try applying bollinger bands to a chart of VIX, preferably with the OEX or SPX charted just above/below. If your software allows, also plot in a seperate panel a 5 day RSI of VIX.

Myself, I look at RSI of VIX, and in particular gap down of VIX to relative lows (reverse for highs) and then a reversal (immediate or almost) from the gap down. More often than not, the OEX/SPX will have a swing high put it (or low).

I borrowed the technique from other folks, I believe it originated with Conners and you'll find it called "Conners VIX Reversal".
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