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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
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DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...
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Tuesday, March 19, 2013

VIX Pops on News of the Cyprus Finance Minister's Resignation

As shown on the Daily chart below, the VIX has popped above a confluence of price, Fibonacci fanline, and mid-Bollinger Band resistance, while the SPX dropped to a low of 1541.32 (as at 12:25 pm EST).

We'll see if it holds pending the resolution of the Cyprus bailout situation.


***UPDATE March 20, 2013: One minute the rumours say he's out...next minute the rumours say he's still in...one minute ECB says they're going to bail out Cyprus, and the next minute they're going to delay a decision...it seems we're being subjected to the same rumour-mongering and market manipulations that have emerged countless times over the past several years with respect to Euro-calamities...the saga continues this year.

"Caveat Emptor!"