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Thursday, June 25, 2009

The Vix Chart


They say you shouldn't apply waves to the VIX but I cannot help it. I posted a chart a while back in March and proposed a double zigzag down from VIX peak:
Well, I present today's updated chart and I must say, it looks pretty decent. The VIX broke out of a trinagle move. Question is, was this a B wave trinagle or a 4th wave triangle?
The difference is a B wave triangle means a drawn out final C wave down to VIX final low is coming and should take weeks to play out.
However, if my pattern is not a B wave and instead a final 4th wave triangle, that implies a quick thrust move, such as that has occurred is all she wrote for the VIX low.
So once again, you can see how the market is at a decision point. 4th wave or B wave? The VIX is a key chart to keep and eye on over these next few days.

4 comments:

  1. http://erikmarketview.blogspot.com/2009/06/chart-of-day-vix-weekly.html

    Looking forward to read "VIX and MORE"'s take on it too....he called 26 the bottom, back when it was trading in the mid 30's i believe.

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  2. Nice work Dan!
    I love Michael Jackson... I hope the market die soon.

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  3. I've had a target of 25 on the VIX for some time, but dude? Party is ON with VIX at 17. Was not sure numbers that low still existed. GL with the call. I see it, but just can't go that low. Everything else you have is right in line with what I am thinking. GL and have a great weekend.

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  4. If VIX go to 17 that's for sure is the end of P2 and P3 will roar back like a Black Bear

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