You guys probably recall that mysterious Market Maker Mind Reader I introduced a week ago:
Well, it’s now telling us to take profits on our short positions. And actually it told us to be short yesterday – should have added that to my pile of evidence I presented in yesterday’s post.
Anyway, Mr. VIX is near the 2.0 BB line – not a bonafide VIX buy signal (relative to equities) but good enough for ‘govumint work’ as they say 😉
Now, that does not mean there is no further downside on the horizon on a medium basis. But a forward thinking trader would probably call it a day after a 50 handle drop in the spoos.
You have been briefed – and consider this my good deed (a.k.a. freebie) for this week.