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It has been a great start to 2017, with various sectors bullishly marching higher and plenty of trade ideas to profit from. For now it is time to relax on a 3 day weekend and just review where we find ourselves after last weeks trading.
VIX - I do like certain things about the set up of the General Markets, but the VIX is about as low as it gets before the General Markets form temporary tops. I don't use the VIX to time a market top or bottom exactly, but it does often warn of volatility to come. When the VIX hits the 11 area, we are alert to a possible top forming soon.
So let's look at the SPX ..
Read MoreThere are times when we need to take note of a few cautionary signs within the markets that we are trading in. Let's take a look at a few of those signs that are popping up now.
I posted this chart of the vix as a warning sign. This is a 5 year chart and we are in an area where temporary market tops have taken place or years, so we want to be mindful of that. In the next few weeks, the markets could experience increased market volatility and toppy action.
So with that in mind...
Read MoreWe are back in a Traders Paradise, as many of our stock picks are lifting off and some are just plain old blasting off. Let's do a market review and look at a few more bullish set ups.
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SPX - Wednesdays reversal looks bullish, and after this long consolidation, we may have a mini inverse H&S followed by a break out higher. The HUGE fly in the ointment is that we have the VIX near 11.
What does the VIX at 11.30 mean? I'll show you ...
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