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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 659.03+1.0%Nov 21 4:00 PM EST
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To: Herschel Rubin who wrote (73991)4/3/2001 1:25:19 PM
From: Crimson Ghost  Read Replies (3) of 99985
 
VIX hit 60 in the 1998 drop. Looks like it may have to get to that level or close this time as well before a major turnaround can commence.

Note that NAZ now is close to its 1998 trough, but Dow still is way above that trough. I find it hard to believe that this market can turn in a sustained way until the Dow gets hit and hit hard. A Dow smash would represent a real investor capitulation
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