MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: Killswitch who wrote (13997)	8/2/2002 3:02:30 AM
From: Steve Lee	Read Replies (1) of 19219

Brian, I think you are right that the VIX gave a buy signal. But that was a few days ago, and like Alex says the resultant "bull market" has been and gone. Since that VIX spike and reversal, we had some upside and the VIX moved down sharply. It is no longer in buy signal territory. Anyone who must be long is advised to use the $SPX rather than $NDX or $INDU. That is because MSFT is going down, probably by half, and will take the latter two indices with it. Come to think of it, MSFT will take the $SPX too as other stocks will move in sympathy.

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