Dow'weekly
VIX'weekly2
Summary
*something I've not highlighted in a few days - not least as i was away, the VIX weekly cycle. Chart'2 shows how I wanted to see the underlying MACD cycle hold above the zero line (grey box)... and with today's gains it has.
A powerful VIX surge looks viable into the late summer.
Certainly, I wish to be regularly long the VIX.
*currently still holding a small VIX block.. but will probably drop in the 15s... and then reassess.
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It is turning out to be a somewhat exciting end to the week... stay tuned!
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3.03pm... amusing to see the cheerleaders on clown finance TV start to get a little rattled. I'm almost surprised they have started calling for no rate rises this year.
Eyes to the Dow... 17500 is very important.
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3.17pm.. micro bounce to sp'2082.. but its not important.. the technical damage has been done on a number of indexes.. but more on that.. at the weekend.
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3.35pm.. I remain long VIX... seeking an exit in the gap zone.. 15.30/16.60.. clearly, that is out of range until next Monday. So.. I shall hold across the weekend.
3.43pm.. sp'2077.. with VIX 14.50s... well... that'll do for a bearish end to the week..... it looks like the market wants to test that 200dma next Mon/Tuesday @ 2065. Back at the close