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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 659.00

+1.0%

Nov 21 4:00 PM EST

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To: Ron who wrote (63248)	11/28/2000 12:19:24 PM
From: jmootx	Read Replies (1) of 99985

The weekly VIX is forming a pennant something not seen since the first quarter of 1996. Back then it broke down, allowing for a rally, but it was trading at very low levels rising from 15 to form a pennant at 20. With the VIX trading consistently at 30 today makes this market very uncertain in my opinion. It has helped that many fourth quarter earnings disappointments are getting priced in now, but what about the scenario that more investors are facing cap gains on large cap mutual funds that are showing losses for 2000? That would sure influence one scenario to let the VIX hit 40 or above before going long.

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