Back to Earth

Silver, GME and AMC are all tumbling this morning as equity futures are responding to dramatic moves in VIX, oil and currencies. In short, things are getting back to normal. Or are they? What if this was merely a backtest on steroids to stave off the bearish 10/20 SMA cross which would otherwise have occurred?ES … continue reading →

Hi Ho Silver!

The flustercluck continues. As we discussed last week, silver is the new shiny object for the Reddit short-busters. This morning SI decisively confirmed its channel breakout, topping the August 7 highs and forsaking the opportunity to backtest its 200-DMA. Unfortunately for gold bugs, GC has not tagged along. As SI closes in on our Nov … continue reading →

Back Again

Futures are off sharply again this morning as VIX spiked to our 27.67 target a day ahead of schedule. Remember Run, Don’t Walk to the Nearest Exit?  That post was headlined by RSP, the equal-weighted S&P 500 ETF. It never did break out, but will instead gap lower on the open with a slew of … continue reading →

Blink and You’ll Miss It

After nailing Friday’s downside target, ES made another “miraculous” recovery and is pushing toward new, all-time highs. Move along, nothing to see here… It will come as no surprise to members that the latest recovery was almost entirely driven by another collapse in VIX.  The other factors: more silliness from oil/gas and a healthy dose … continue reading →

VIX: Just a Flesh Wound?

In Friday’s post VIX: Back From the Dead we noted that VIX had recovered from the breakdown below trend dating back to Nov 27. This morning, it’s testing overhead resistance from Jan 4 and, if it’s able to break through, will likely take on resistance from Dec 21 or even Oct 29. Bears might want … continue reading →