Challo,
>>>> You mentioned that the R2K has three white soldiers-
taking a look a the VIX - is this formation 3 black crows on the daily chart? And, if so, in the contrarian language of the VIX, is that BULLISH for the market? <<<<<
Oops, Lee mentioned to me last night that that question was asked on our website and I forgot to answer it. I apologise for not responding to the initial request, but I dont read our website, and I now rarely read messages which are not directed to me on SI. I realise that I may be insulting some, but since my system is almost totally based on technicals, I basicly tune out to SI and CNBC now, for the most part. In fact Im watching the FOOD CHANNEL now. And yes I dont read LEE's post either, which probably pisses him off. gggggggg Not done intentially, just that I feel that the fundamentals actually hurt my success rate, which I have noticed in the past.
Getting back to your question, it is an imperfect 3-BLACK CROWs. There is a small gap between DAY 2 and DAY 1. The 3-BLACK CROWs in the VIX, if it doesnt fail, would be bullish for the market. Also the VIX did set LOWER LOWs which implies that the downtrend is intact which is also bullish for the market.
seeya |
