Note that the VIX is currently in a range, but may have completed a double-bottom test of recent lows which sets the stage for a move higher (higher VIX correlates with a lower SPX).
Tuesday, April 5, 2011
Short Term Top?
After a shaky start, concluded the day with $1,775 in gains, a small open position, and an established put spread on the ES (risking $2 to make $10). ES close implies a continuation of the downtrend tomorrow.
Note that the VIX is currently in a range, but may have completed a double-bottom test of recent lows which sets the stage for a move higher (higher VIX correlates with a lower SPX).
Note that the VIX is currently in a range, but may have completed a double-bottom test of recent lows which sets the stage for a move higher (higher VIX correlates with a lower SPX).
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