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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...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

N.B.
* 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.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.

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, February 24, 2015

The Line-in-Sand Level for SPX:VIX Ratio

150.00 is the Bull/Bear Line-in-Sand level for the SPX:VIX ratio as shown on the Daily chart below.

Price closed today (Tuesday) at 154.53...failure to hold 150.00 could see a serious correction in equities and possible break of the critical 60.00 level, which has been threatened numerous times since mid-October 2014.

Momentum has been choppy and rising tentatively since mid-January of this year, but has yet to make a new all-time high. Price has definitely not made an all-time high on this ratio, and is not confirming the all-time high set on the SPX, as shown on the second Daily chart. As well, momentum on the SPX has also been choppy and rising tentatively since mid-January of this year, but has yet to make a new all-time high. These three observations tell me that, although the SPX remains in uptrend, it is rising in a choppy, tentative and fragile manner at current levels. Furthermore, the SPX will reach a major external Fibonacci level (161.8%) at 2138, where we may see some major profit-taking occur on rising volatility.

SPX:VIX Daily Ratio Chart

SPX Daily Chart