LG,
You just keep on posting!!!!!!!! Dont give me that southern humility ggggggggggggggggggg and dont take it in anyway other than a compliment.
Just out of curiosity, I was pondering the VIX. I had previously indicated that the support was around 28-29, but since I my eyesight isnt that great anymore and since my charts are not clear - I noticed that the actual support area is closer to 26-27. Can anyone check the actual intraday day lows for the VIX in AUG.
I am suspecting that if we get to the 26-27 range on the VIX, that would be the beginning of the mini-dip, which could occur in a few days, say by the end of this week or early next week. I feel that after that mini dip, which could take the form of an intraday/1-2 day downspike, will would be the better time to go long. I strongly feel that we need some sort of a dip on the NAZ, although small, for the market to break 8650 and head towards 8800.
As I am typing the DOW has given up half its gains already, up 48. That is hinting that this specific upswing is lacking the legs.
As I have said before, just dont think the forthcoming upswing will be so smooth.
Seeya |
