AMAZING DAY
An amazing day with the SPX having its biggest one day gain since October of 2003 or 986 calendar days according to our friends at Ticker Sense. Can it continue?I don't know, but I do know that the there is a gap on the SPX from today's open that will eventually get filled, that all the volatility indexes got crushed today and all now trade about 15% below their 10 day SMA's and we know that as a general rule the markets rarely get traction when the Volatility indexes are this oversold.
I also know that all the oversold indicators failed to help on the way down as the buy signals kept on coming and the markets kept on falling. Time will tell if its different this time with the sell signals as well.
posted by DAVID at
6:19 PM
1 Comments:
Strange day - The VIX dropped 25% which seems to be an amazing amount and the market went from oversold to overbought immediately.
The three sisters threw off white candles in the last hour so we probably go up tomorrow morning again but then it will be time to go to the beach and not much more should happen until Monday.
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