The VIX opened with a small gap up leaving a small "close to open" gap on the downside, that is the ONLY gap on the downside that needs to be filled, the upside is a totally different story with three major gaps that are still unfilled. The VIX is also back down in that territory where the last large sell-off started back last April.
Click here for a live, and updated chart!!!The STO indicator on the bottom of the chart is at extreme over-bought condition which does not support the 1-2 up squiggle count in black. It does support an on going 4th wave correction in blue though, with the next small sell-off the "C" wave of 4 down, of 5 up. One thing I do like about this count is by having this 4th wave extending in time a little more pushes the time frame for a top into the very beginning of next year (early January). The trend does remain up until the SPX can start printing some serious lower lows.
TNX has registered a sell signal on the Trendfinder, down 1.68% this morning and moving the 10 year rate down to 3.28%. 
No comments:
Post a Comment