Jeff 12:04 pm on Friday, March 23, 2018
Tags: VIXIndicator ( 294 )

Not good

#VIXIndicator Just a heads up that closes like this on a Friday don’t make for great Mondays. This will make 2 uglies in a row after yesterday… similar to that fateful weekend in August 2015.

MikeL 12:10 pm on Friday, March 23, 2018

SPX is just on top of the 200 MA
The question is if this is a retest of the FEB lows, or a further decline?
- Jeff 12:11 pm on Friday, March 23, 2018
  
  Yes, now way to know, however it is rare that a Friday closing like this will NOT make a new low on Monday. It may open up with a limit-down and then rise from there.
fuzzballl 12:12 pm on Friday, March 23, 2018

Theo Trade guys looking for a flush out to below the 200ma and then possible recovery. We shall see..
- Jeff 12:18 pm on Friday, March 23, 2018
  
  I’m closing out several put positions. I may roll some, but would prefer to wait until Monday being clean… if we get a nice gap down, sell puts then.
  - MikeL 12:24 pm on Friday, March 23, 2018
    
    Jeff, which strikes are you closing?
hcgdavis 12:33 pm on Friday, March 23, 2018

Good news is I do not have anything on that can explode over the weekend like Aug 2015 or after hours like SVXY FEb 6. No futures, everything hedged or cash secured or already assigned. FAS is my biggest loser this week but will work it back over time.
hcgdavis 12:34 pm on Friday, March 23, 2018

Interesting with the VIX today, /ES down 40 vix only up 1.61 so I would not call that panic yet.
- Jeff 12:35 pm on Friday, March 23, 2018
  
  Yes, VIX action is strikingly mild.
  - jsd501 12:47 pm on Friday, March 23, 2018
    
    it could be that all the former players are already short volatility like me.
Ramie 12:42 pm on Friday, March 23, 2018

200 day moving average is about 10 points lower from here (2585). I only mention it because there was almost a near perfect bounce from it, intraday on 2/9. Not sure it’s relevant but it’s a data point. The anecdotal evidence of a Monday swoosh would probably carry more weight.