During the 3rd week of June of this year the RSI(14) on the VIX hit 70 and the VIX backed off.
Then, during the 2nd week of Oct. the RSI once again hit 70 and the VIX backed off. The RSI
for the VIX is currently at 66.44 and rising. If the RSI hits 70, which it could possibly do in the
next few days, and the VIX backs off once again it won't be good news if you're a Bear. Also,
it appears that the VIX is possibly putting in a H&S formation with a neckline of 12, left shoulder
at 17, head at 21 and possibly a right shoulder at 17. If the VIX does put in a H&S, once again,
it won't be a good thing for the Bears.
VIX
Started by
4caster
, Dec 17 2013 12:30 PM
1 reply to this topic
#2
diogenes227
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Posted 17 December 2013 - 01:12 PM
The weekly VIX trigger -- crossing back over 15 often means something...
http://stockcharts.com/c-sc/sc?s=$VIX&p=W&yr=7&mn=0&dy=0&i=p41390633282&a=193156912&r=1387303818173.png
http://stockcharts.com/c-sc/sc?s=$VIX&p=W&yr=7&mn=0&dy=0&i=p41390633282&a=193156912&r=1387303818173.png
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