el, interesting vix chart, there was a 2000 vix triangle that we broke out of in april and bottomed on 4/14, and now have made an abc rally back into the broken triangle at fomc and turned back off.
off the july 99 top, there were three drives to the october bottom, this vix cycle topped around thanksgiving (does anybody remember the single digit mdd post counts in december -gg-) and i believe the first drive was into 1/6, the 2nd drive was into 4/14, and we still have one more drive to the ultimate capitulation bottom, this market has never bottomed on the kind of action we've seen in the nasdaq lately, it only bottoms on violence, not puss.
we'll see.
a lot of perma-bullish types, like you are joining the team from chi-town, that means we are close, but sentiment is not something to make an exact turn point on.
if we don't sell hard monday, i think we could have a rally early in the week.
b |
