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Hello Chris,
readings like 13 is a phenomenon of 95-97 years when market was in a
steep bull mode. Now in the midst of bearish market it is virtually
impossible. To me thinking of vix going below 15 is equal to statement
that we are nearing to strong bull market which is hardly possible
here due to several reasons (valuations particularly) - imo.
And besides fundamental considerations I think technically it is not
suitable to apply forks to VIX since it is rather ranging instrument
than trending.
Best regards,
Alex mailto:alex_bell@xxxxxxx
Thursday, March 21, 2002, 11:28:04 PM, you wrote:
CC> If my dotted gray line breaks that is the next target. In addition to the pitchfork lines, it is also a log scale 78% retrace. Fits nicely for a really big w2 or wC.
CC> Regards,
CC> Chris
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