This is Crazy! Stock Market Investors Have Simply Gone Nuts!
Stock-Markets / Stock Markets 2018 Feb 02, 2018 - 04:07 AM GMT
SPX took out yesterday’s low at 2813.04. This may be the beginning of the slide suggested by the Head & Shoulders formation. Confirmation comes at the neckline at 2805.00. There is still a chance of a pop to the upper reaches of the right shoulder, but that probability seems to be fading fast.
Many are ignoring this decline as being “too insignificant.” Vic Kolanovic at JPM is one of them. It appears that a larger decline will be needed to wake these fellas up.
VIX made a 42.6% retracement and is now rising above the Cycle Top support. Please forgive my earlier statement that 12.67 was at 50%. I did not double check my math.
The guys at ZeroHedge are scratching their heads. They wrote, “There's "buying-the-dip"... and then there's this!!!
After a couple of days of volatility in stocks, prices falling and VIX rising, 'investors' - if that's what one calls them - have decided to pile back into one ETF in a size that is utterly unprecedented.
They’ve poured a record $520 million into an exchange-traded note that gains when VIX drops...”
Talk about crazy. Investors have simply gone nuts! Sentiment is off the charts the wrong way!
Regards,
Tony
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