Here is the updated VIX chart :
Still above my green trendline. I will stick to my prognosis for a side-ways to an up market for the near term.
Since this blog is all about inter-market relationships, I thought that it would be prudent to support my view with a chart of the US Dollar.
As you know that USD and Stocks tend to move in opposite directions on the graph, I put up this chart of the co-relation :
And here are the trendlines I have been following on the USD index:
Ever since the descending TL gave way in Dec, USD has been moving upwards, but confined within the two TL's you see in the pic.
The lower TL will have to give way for the upmove in stocks to continue.
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2 comments:
Right On..
Where will the SPX be before we get a pull back, per the Vix you are watching..
1130 and if we go higher then 2009 highs.
But a pull back should start from 1130 and if we are to make it to 1200 then 1105-1112 should not break on the pullback.
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