CBOE MARKET VOLATILITY INDEX, Daily: The last short-term $VIX reversal that we identified on November 21 was dead on, and we note that the 5-day RSI has gone back under the 30 line, and threating to creep up again. This sell signal would be better if we see $VIX thrust down today, to touch the lower Bollinger Band. Meantime, we continue to see a lower number of 52-week new highs on the NYSE, as expected. As a move up gets old, the number of stocks that make new highs tend to decrease, as the move narrows to a handful of big names.
NASDAQ MARKET VOLATILITY INDEX, Daily: Same story here, just like the $VIX. We note that the number of new highs are shriking too, and on the last swoon down, the number of new 52-week lows actually starting to creep up...
03.12.01 10:02 #