Category VIX

$VIX . Watch it.

I am still short on the market and is losing money now.

However, I am also wary of what’s going on with VIX.

VIX is now around $18.31 . The lowest from the chart is $14.27 in April 2011.

In July last year, VIX spike from $14 all the way to $40 within one month.

Greece was supposed to have finalised various agreements since last Friday and ‘legalised’ by this Monday.

That timeline has come and go. There is still no agreement in place. The losses that investors have to take is still not known yet.

If one has not established any Long position yet, I don’t think this is the time to go in.

Judging by the movement of the market, I maintain my view that the market can’t go up further by Feb. Keeping my fingers crossed.

iPath S&P 500 VIX Short-Term Futures ETN (NYSE:VXX)

 

1. VXX is poised to break out of the kumo resistance.

2. We have a weak Tenkan sen – Kijun sen bullish cross below the kumo

3. Chikou Span has cut the price level upwards

4. While Kijun sen is flat, we can see that Tenkan sen is exhibiting a very bullish upwards movement.

5. Target timeframe by April.

VIX ($VIX) : Watch the resistance

Watch the resistance of VIX both on the Daily Chart and the Weekly Chart.

1. Daily Chart

Noticed how the Chikou Span (as identified by the circled area) is providing some resistance

2. Weekly Chart

Now switch to the Weekly chart, and see how the kumo is resisting its movement upwards.