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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: NOW who wrote (121684)	7/8/2005 2:51:43 PM
From: Shack	Read Replies (3) \| Respond to of 209892

We have discussed this before on this thread. I do believe the VIX is symptomatic of a greater problem for the markets and it is a recipe for trouble longer-term. But short-term do you think really want to place a bet on its 3-year downtrend suddenly reversing? As for the P/C, I only use the 21-day EMA (used to use the 10-day) of the all-exchange EPC and it remains very high at 0.74, near bearish extremes and not in any rush to come down despite the recent rally, and FWIW today its at 0.7. Not to mention the ongoing reluctance of Rydex traders to cover, still 5 to 1 short the SPX. Charts are the main thing for me, and many still look very very good to me. Talk to me when the SOX is over 500.-ng