Today's a good day to keep a close eye on the VIX (The Volatility Index which
moves opposite to the market's direction).
Why?
Because it hit its resistance line yesterday so many traders will consider
it a "pivot point". This will be an important test level today.
There is a short term bias to the downside with Inflowing stock market Liquidity
that could be strong today. However, if the battle becomes tough today, a VIX
close above than 16.2 would carry negative connotations with it so keep an
eye on it ... see the chart below.
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.
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