That's what I call it.....a gain of 1 percent or more, 3 days in a row on the SPX. Usually a good bottom marker, with limited downside going forward. Looks like a decent bottom formation on the 60 minute chart.
SPX price thrust last week
Posted 06 November 2018 - 06:38 PM
The VIX delta.......VXST minus VXMT is still in positive territory, which looks bearish for the markets (VXST greater than VXMT). Needs to reverse and get back into negative territory for a sustained bullish trend. If it stays like it is now, the overhead VIX gap around 23 will get filled at some point....sooner rather than later.