Tuesday, July 10, 2007

Waiting on the VIx

These are daily charts showing price action as of noon today (pst). Based on the rising TICK slope and NYAD, I was tempted to get long at the 11:30 (PST) turn, but decided to hang back due to the position of the VIX. The TRIT is about to crossover 1...if it does, then further weakness can be expected, possbly for a day or two. Vix and More has noted this phenomenon previously and I am looking for technical signs to support a long bias on expiration week.
I am holding on the short term trades until VIX hits and closes at or above the upper band.

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