Easy Rider
Easy Rider
The best thing I ever did as a trader was to completely ignore the news and simply focus on my technical analysis and system rules instead. A policy that not only has kept me out of a laundry list of bear traps over the years but also allowed me to take advantage of entry opportunities while the majority of participants were left rubbing their backside.
Once again the S&P has painted all time highs and not surprisingly this has pushed the VIX back into single digit territory. Now if you read ZeroEdge and various other watering holes frequented by chronic permabears then you are probably convinced that we are heading straight into another cyclical market crash. Well, not so fast – the data suggests otherwise. A quick glance at the VIX chart above clearly shows us that single digits indeed do precede bear markets – by several months at least.
Besides as of right now we are officially in ‘easy rider’ mode. Unfortunately I was on vacation last week or I would have posted this chart right away. The good news is that we’re not done yet and that the fast and merciless first leg higher should continue until the ROC drops below the -35 mark.
More momo charts below the fold for my intrepid subs:
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