Sunday, December 19, 2010

Vix at 16

recap-Last week was a very quiet Triple Witch for sure, this week click vix chart to enlarge.

Let's look at the vix over the years. You will notice that when we get to 16 over the last few years we have had topping action. Just need to watch, and I start to pick up 1220 SPX as a level that could turn us down. Just saying and I think it will be a higher number.

Wave C,wave X, wave 5 or extended?Some targets.

Looking at a chart on that told me something basic so I expanded on it to my liking. The daily gives a few of my price targets .
But you really need to look at the weekly to see how important the support and resistance area's truly are going back years.