$SPX & $VIX


The purple candles represent the $SPX (S&P 500). It is curious to me that though today was basically a bearish day that the VIX really didn't change. So, if the market is tanking, the "fear" is not there. Just something that is interesting to note.


We've now hit the 1426 to 1433 range now 4 times. We know that's an important area. Will it turn bullish or will it go bearish? I don't know, but looking at the VIX as well as MACD/RSI, it looks like things are poised for a rally, possibly. Commitment of Traders (COT) are still bullish - long. So, if they thought things were really going bearish, they would be shorting, but they are not. Hmmmm...interesting. They could be wrong, which they have in the past with regards to last year when the began shorting and the markets continued to move up.



If we change the $SPX to a monthly timeframe, this gives a different picture than the daily charts. There aren't too many months that have more than 3 bearish candles in a row, especially over the past year plus. If a rally takes place, it would make sense.
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