Is the VIX Saying 'Be careful now?'

By: Marty Chenard | Fri, Sep 3, 2010
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Today's 60 minute VIX chart is as of 10:43 AM this morning.Many investors are getting excited about the market movement in the past few days. But, some VIX followers are a little concerned right now.

Why? Because ...

1. The VIX has been in a trading range since July ... that's good. The VIX hit the bottom range of its trading range this morning and then jumped up ... that's not so good.

2. The VIX's 60 minute RSI dropped at the open ... that's good. The RSI was at an oversold level and it bounced up after hitting its support line ... that's not so good.

This morning, the Institute for Supply Management said its index of national services activity fell to 51.5 in August from 54.3 in July. That along with the VIX hitting a trading range support while its RSI hit an oversold level and support has some investors nervous as we go into a long weekend.

60 Minute VIX Chart



Marty Chenard

Author: Marty Chenard

Marty Chenard
Asheville, NC 28805
Tel: 828-296-1200

Marty Chenard is an Advanced Stock Market Technical Analyst that has developed his own proprietary analytical tools and stock market models. As a result, he was out of the market two weeks before the 1987 Crash in the most recent Bear Market he faxed his Members in March 2000 telling them all to SELL. He is an advanced technical analyst and not an investment advisor, nor a securities broker. is dedicated to Stock Market Investors who want the best information on stock charts, stock market trends, stock market timing and technical analysis.

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