Very Interesting Discovery On The VIX 4hr Chart. Get Ready.
There are a few things that occurred today that strengthened my overall bearish thesis on the market. I'm supporting that by charting the VIX to see where we could possibly go by using patterns and indicators. The VIX measures uncertainty in the market and has an inverse correlation to the stock market. When the VIX goes up, buyers and sellers become less certain of their positions and become more reactive to news headlines and other possible catalysts.
Red Flag: Today the dollar was incorrectly correlated on the SPY bounced today. Later in the day, this trend broke with the Spy losing strength and the dollar rising.
Trend Discovery: On the last two Tuesdays, Oct 20 & 27th; the True Trend Indicator indicated buy signals on the 4-hour chart. The second buy signal on Oct 27th was even more convincing than the first. Next Tuesday is election day. So where could we possibly go Tuesday?
None of this is an investment recommendation.
VIX
Red Flag: Today the dollar was incorrectly correlated on the SPY bounced today. Later in the day, this trend broke with the Spy losing strength and the dollar rising.
Trend Discovery: On the last two Tuesdays, Oct 20 & 27th; the True Trend Indicator indicated buy signals on the 4-hour chart. The second buy signal on Oct 27th was even more convincing than the first. Next Tuesday is election day. So where could we possibly go Tuesday?
None of this is an investment recommendation.
VIX
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