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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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* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
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Wednesday, January 02, 2013

Wednesday's Volatility Crush

With today's (Wednesday's) "gap-up-and-go" action on the SPX, RUT, and NDX, volatility got crushed, as shown on the three Daily ratio charts below.

The SPX:VIX ratio closed just above trendline resistance. I'd say, if price can hold above 95.00, it has a good chance of going higher, provided the Momentum indicator stays above the zero level now.


The RUT:RVX ratio closed at major resistance. I'd say, if price can hold above 46.00, it has a good chance of going higher, provided the Momentum indicator stays above the zero level now.


The NDX:VXN ratio closed in between trendline resistance and support. I'd say, if price can hold above 150.00, it has a good chance of going higher, provided the Momentum indicator stays above the zero level now.


As shown on the Daily charts below, and looking at a bigger picture, there is still plenty of room in a larger channel from the June 2012 lows on the SPX and NDX before they hit their upper channel, while the upper channel is much closer at around 890.00 on the RUT. Whether the RUT hits its upper channel and continues to run higher without either consolidating or pulling back remains to be seen, if the SPX and NDX continue their rally...one to watch for continued leadership, particularly after making it's all-time high/closing high today.