Stock Market Today : May 14th - 18th - Page 25
Maybe, because it's not having huge moves I don't think it'll bounce. But who knows. Volume still sustainable too, showing more downside tomorrow imo.
It just bounced off key support and has had huge volume expansion as we got closer to these levels. Doesn't all hit the ground at once..
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VIX closed above upper bolly for 3rd day in a row. This happened twice last summer (it's pretty rare). The first time it happened was July 27-29, and VIX went from prior close of 20.23 to 25.25, almost exactly 25% gain. Then it happened again about a week later, August 4, 5, and 8. During that time, VIX went from prior close of 23.38 to 48.00, a gain of over 100% in three sessions. Will today's close be a harbinger of doom? If not, it should offer a pretty solid mean reversion trade, although given the relatively tame valuation of the VIX, your target is only going to be about 18.50-19.00, hard to play with VIX instruments. There should be some good bounce plays in the next two days, unless we are bound for a crash. Just for posterity, I'll post the SPY chart with a gray box under the two occurrences of three consecutive closes over VIX's upper bolly. What struck me is the chart looks quite similar to what we're looking at today. Draw your own conclusions (I don't have strong conviction for tomorrow, I'd have GLD calls or SPY puts if I had strong conviction one way or the other). The third day of the first gray box (July 29th) would be today, if we overlaid the charts.
Strange thing i took a position in $XIV at the close and it will probably blow up in my face tomorrow..futures up 60 ppoints right now but that means squat for 9:30AM Thursday
Exactly, I see so many people on my twitter feed (and I don't think they trade futures) going "it's up 20, now 40, now 60! down 20 - market is in trouble 2mrw!!". We're so far away from the open we could have another greece lightning headline or big ben could use another QE3 magic trick nobody knows. I don't even bother looking at the futures until I wake up around 5am because I don't even trade it no need to worry so early..