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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: Crimson Ghost who wrote (17402)	1/1/2002 11:53:17 AM
From: ajtj99	Read Replies (3) of 99280

George, that's reading a lot into 1-day. The VIX did jump a nearly a point yesterday, from 22.33 to 23.22, but that's hardly a spike. To use a term from the e-wave bunch, we had an impulsive move down at the end of the day. We are back in the downtrend, but not far from breaking it. The volume yesterday was low also. I think we need to break below 1934 on volume and breach 1918 to get a clearer read on this downtrend, the same like surpassing 2012 would give us a good indication of an uptrend. VIX chart for the past 5-days: finance.yahoo.com^VIX&d=c&k=c4&t=5d Isn't 1950 a .618 re-trace of the move from 1918 to 2002? If we go up from here, it could just have been a correction similar to what we had Dec. 20. An argument against that could be the NDX dropping to nearly .764 re-trace of its move, and the H&S in play on the NDX. However, I veiw the NDX re-trace as less significant than the COMP. 1950 is a bit of support here on the COMP, and it may hold on Wednesday early on.

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