#VIXIndicator We are heading into an upside warning with a third consecutive close below 9.96. This signal rarely is false.; while recent Downside warnings have often been head fakes, the Upsides have been good for at least a small rally before stopping, which in this case would mean 10-30 points higher on SPX next week. Hard to believe that will happen with the recent range-bound, dull movement. And weekend news could derail it as well.
#VIXIndicator Well with a close finally below the 78.6% line, the Downside warning that started on Sept 5th is finally canceled. In the “correctionless” last 20 months, the Indicator has become more lagging than ever, so not sure what to make of it.
#VIXIndicator — Downside warning is in effect.
That was quick.
#VIXIndicator closed below the Fib 78.6% line, so the warning is over. Likely more upside in the coming days. Two more consecutive days below 10.65 will mean an Upside Warning.
#SPXcampaign #VIXINdicator With the VIX breaking below its intraday consolidation and SPX shooting higher, I’m beginning the process of reversing my SPX campaign positions from short to long. The Downside signal will not officially be over until a close below 10.65, but today it’s certainly looking to be headed there.