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Strategies & Market Trends : News Links and Chart Links
SPXL 222.94+1.0%Dec 3 4:00 PM EST

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From: Les H6/29/2022 12:50:51 AM
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Sam

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Big jump 6% in oil and natural gas stocks today. That sector lost almost 30% in two weeks after it made the most crowded trades Bank of America survey.

Even with today's sell off, market is not much closer to oversold than Friday. The volatility is at 32 and rising. So the VIX is actually well below what the SPX is experiencing with 2-3 percent daily moves common. SPX will have to break below the recent lows to raise the volatility in a big way. VIX is probably going to the 40's. If the bear market lasts into October, 50's or higher would be possible.
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