Friday, January 29, 2010

VIX - Bull flag?

If that is a tight bull flag flying in the VIX, then we are about to get additional downside action in most markets. As such, I bought back the VXX (loose) tracker right around where I sold it the other day, for additional protection.

One thing about the VIX however; being an indicator and not an equity, it has a real tendency to invalidate normal technical signals with routine cruelty. So, that's why the title asks 'Bull flag?'