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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude
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To: freelyhovering who wrote (21041)9/7/1998 11:10:00 AM
From: Doug R  Read Replies (1) of 79429
 
Myron,

When the VIX moves up it means that volatility has increased. The increase in volatility can be upside volatility or downside volatility. Price direction is not normally ascertained from the VIX. However in a sideways trending market, increased volatility is usually a clue that continuation in the direction prior to the sideways trend is approaching. If it was moving up before the increase, the price will usually start back up and vice versa. In this case there was no basing activity in the Dow prior to the VIX increase. The Dow was just going down on increased volatility.
I suspect if an extreme (high VIX) move down in the Dow occurs, the settling down of the VIX back through the IL would mean a long, slow grind continuing downward. If the market reverses and makes an extreme move (high VIX) up, the calming down of the VIX back through the IL would mean a long, slow grind upward.

Doug R
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