Friday's dramatic upside reversal in the S+P, confirmed by the VIX,
which broke out to the upside on the open Friday, yet the rally in volatility failed miserably
and the VIX closed the week at 16.04, well off it's 23 mid week high,thus confirming a rally top in fear.
S+P 500 has bottomed this week at 2825,
and has turned up,with the short term spike in fear in the VIX now already pushed back,
the market may look to potentially break it down even further next week.
The double top in the S+P at 2945 is the real overhanging obstacle that
will need to confront next, having first to get past formidable resistance at 2900.
Continue to monitor the VIX very closely each trading day,
as important clues about future market direction
are guaranteed to be given to you.
VIX Last 16.04
THE_UNWIND
5/11/19
NEW YORK
which broke out to the upside on the open Friday, yet the rally in volatility failed miserably
and the VIX closed the week at 16.04, well off it's 23 mid week high,thus confirming a rally top in fear.
S+P 500 has bottomed this week at 2825,
and has turned up,with the short term spike in fear in the VIX now already pushed back,
the market may look to potentially break it down even further next week.
The double top in the S+P at 2945 is the real overhanging obstacle that
will need to confront next, having first to get past formidable resistance at 2900.
Continue to monitor the VIX very closely each trading day,
as important clues about future market direction
are guaranteed to be given to you.
VIX Last 16.04
THE_UNWIND
5/11/19
NEW YORK