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I would rather look at VIX in a point and figure chart than with moving
averages and bands. It still looks like there is room for considerable
buying to occur before we get a decent sell signal.
BobR
----- Original Message -----
From: <Candlestyk@xxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Tuesday, May 16, 2000 4:00 AM
Subject: [RT] Re: sp500/nd
> RT,
> I agree P/C is neutral right now. Keeping it real simple, there is a
> convergence of a downtrend line and the 62% retracement for the S&P Cash
at
> about 1472. The 20d Bol. Band is 1481.
>
> The lower Bol. Band on the VIX is about 26, it closed about 27.5.
>
> A close of VIX under the band, S&P stopping at the DT line, and an IBD
or
> CBOE low reading of P/C is an ideal short term sell signal in my opinion.
>
> In this downtrend, IBD P/C ratios of < .40 have occured on 4/3, 4/7,
4/25,
> 5/1.
>
> Ray F
>
>
>
>
>
Attachment Converted: "f:\eudora\attach\VIXpnf3.gif"
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