Oil Spoils, VIX Fixes

Yesterday’s daily post’s title said it all: timing is everything.  Yet, I had no idea the gratification would be so instant when I posted the recommendation to short oil at 9:35AM. CL is at or very close to the top of a long-term channel that could put an end to any further escapades…  The SMA100 … continue reading →

Timing is Everything

Had the disappointing OPEC summit results been announced during market hours yesterday, we might not have seen a 2.8% ramp in WTI futures from Tuesday’s lows.  Together with the ongoing meltdown in VIX, this was enough to push S&P500 futures to new all-time highs.But timing, as they say, is everything.  With a 7-pt ramp in … continue reading →

Market Averts A Disaster

Traders around the world are breathing a sigh of relief, this morning, after the market narrowly averted a disaster yesterday. The day started normally enough, with a gap higher on an 11.4% plunge in new home sales.  But, after gaining about 7 points, SPX started slipping.  At 12:09, it began what can only be described … continue reading →

The Melt Up Continues

Not even the threat of selling off half the Strategic Petroleum Reserve has been able to dent CL’s algo-inspiring price action. With help from VIX, it has been able to squeeze another few points out of the futures, which are currently up 4 points.  Our next upside target is just overhead.  Will we get the … continue reading →

Is It Over?

It depends.  Do you feel safe with a faltering ramp in WTI and slump in VIX holding back the selling pressure generated by a falling dollar complex? SPX made a nice recovery yesterday, setting up some potentially bullish patterns but failing to follow through on them.  Some of those patterns have been under assault overnight, … continue reading →

It’s War!

Back on April 25, I posted “How Broken is the Market?” and included the following VIX graphs.  The first showed a long-term channel (below, in yellow) the bottom of which was occasionally tagged in times of extreme complacency.  Each instance was followed by a correction.I contrasted it with a chart of the same channel which, … continue reading →