Wednesday, January 21, 2009

Vix - put/call ratios - Yen - IEF

After Vix's move well above its 20 dma, it has pulled back, as expected. Now the question is whether this pullback is the start of down trend. The next barrier for Vix is its 10 dma, and after that the 20 dma.

The put/call ratios have yet to turn over -- actually the equity-only ratio looks like it topped last Thursday, but I'd like to see a more decisive move down before saying that it's called a top.

The Yen are moving sideways, neither bullish nor bearish, while Treasuries have been selling off, which is bullish.

It's promising that the bottom is in.

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