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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Skeeter Bug who wrote (201779)	5/12/2009 8:16:47 AM
From: ajtj99	Read Replies (1) \| Respond to of 306849

I'm looking for the SPX to hit 875 by Friday to take care of Op-ex. As for the VIX, it typically moves inverse to the market, and it's in a steep falling wedge, which is as bullish formation. That's similar to the bearish rising wedges on the main indices. The indicators on the daily and weekly VIX are oversold, although we'd really need the VIX above 37.50 to confirm a market reversal down to test the lows. Of interest are the "bookend" candles on the weekly SPX formed last week and the first positive week in March. Often times price will re-trace up to 50% within this formation from my experience, although initially I'm not looking for that much, as I think we may re-test last week's highs in early June.