Last Monday, we reported on the VIX (Volatility Index) and how it had an "Expanding
Wedge" pattern.
We said that meant that the volatility "swings" would be more extreme from
the trough to the peaks. In other words, we said to expect market "whipsawing" until
the pattern ends and has a breakout.
Here we are a week later, and last Friday did show us a more extreme volatility
move with the VIX gapping up.
In spite of the gap up on the VIX, conditions remained mixed with the C-RSI
positive (but lower), and the S&P in a sideways trading range.
All the noise about Dubai is not a problem right now.
What would become a problem? The U.S. Dollar ... if it starts to
have a fast move to the upside it will cause a sharp down move in
our stock market, so keep an eye on the Dollar.
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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