Hello VIX

posted Aug 28, 2014, 12:01 PM by Katie Shook

Wednesday’s pricing pattern was another Doji.  We saw this a month ago on 7/24/14.  The difference this time is that the markets have more upward momentum in general.  However, this 2000 level has been a serious hurdle.  Based on the futures — and the apparent speculation that improved economic data means less QE — this market may be in for that 2-3% pull-back we were mentioning earlier in the week.  This would be based entirely on the short-term technicals, but what can I tell you?  It’s not a guarantee – it’s a forecast.  Check out the white arrows on the chart…

ScreenHunter_16 Aug. 28 06.27

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