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.
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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