Charts I’m Watching: Nov 27, 2017

Friday offered further confirmation of the distortion in markets driven by manipulated algorithm inputs.SPX was rolling over as the early 10AM close approached.  The only problem was that the SMA5 200 hadn’t even reached the 1.618 extension at 2599.41.  VIX suddenly dropped from 9.69 to 8.56 — an 11.7% plunge in mere seconds.  There would be no backtest of the 1.618 extension (at least on Friday), let alone the many other important support levels further south.

So, we have a new all-time low for VIX… and the bubble expands just a little further.  Just another day in the “markets.”

continued for members


lock

Sorry, this content is for members only.

Click here to get access.

 

Already a member? Login below

Email
Password
 
Remember me (for 2 weeks)

Forgot Password