Dow Surges Above Key Technical Level, VIX Nears 20

Thanks to a short-squeezing XIV...

The Dow is up 300 points and has broken back above its 50-day moving-average.

 

Stocks remain lower on the week though...

 

At the same VIX is getting monkey-hammered lower, nearing 20 once again...

Comments

Erwin643 Cognitive Dissonance Wed, 02/07/2018 - 16:00 Permalink

What, you mean technicals making sense once again?

SVXY was so overbought on a long-term basis that it was not only trading above its top Keltnor channel on the weekly chart, but using it as support! In fact, it its 4-week MA was above the top Keltnor channel!

If I had been smart, I would have noticed the close below the 50-day MA on SVXY, in particular.

In reply to by Cognitive Dissonance

Quivering Lip Wed, 02/07/2018 - 11:06 Permalink

My thoughts from 2 days ago.

Historic market crash? WTF are you Tyler bots talking about? 1929 was historic. 1987 was historic. This was a nothing burger, and don't give me the bullshit number about market cap lost in a day. The "market" added 8 trillion dollars worth of market cap in the last 15 months was up 40% (election night lows). Still up 30% (6 trillion since last November.

Probably get everyone short and rip to new highs in April. 

 

Looks like I had it all wrong. New high by next week.

Peak Finance Quivering Lip Wed, 02/07/2018 - 11:16 Permalink

Nope dude, sorry but Monday Vix Termination event was "the end" again, for like the 4th time since 2014

They pumped in BILLIONS in all day at TECHNICALLY PRECISE Moments or it would have been all over we would be down 20% (at least) right now. 

I mean you DO UNDERSTAND this is not conspiracy theory right? We can watch the GIANT PLAYERS waltz into the market and do these INSANELY HUGE buys and move the market. They are like a bull in the china shop and don't even try to hide their moves. 

 

In reply to by Quivering Lip

canbroker Wed, 02/07/2018 - 11:10 Permalink

look at the way the market trades  yesterday and today 50 - 100 point jumps in a matter of seconds . Who has the ability to do that? The list is very small.

coast1 Wed, 02/07/2018 - 11:19 Permalink

I just know that I am experienced in low voltage and cant find a job...the reasons are many. And now they want 180 dollars and 40 dollars a month extra on my electric bill because I opted out of smart meter..gas is almost 3 dollars a gallon where I live...And, I was watching a new guy (not promoting him), who does interviews at protests..The answers he gets to questions is beyond belief..Reminds me of the Jethro Tull song " now there's revolution, but they dont know, what their fighting"..great song.

Azannoth Wed, 02/07/2018 - 11:31 Permalink

Some big players got caught on the wrong foot so they have to manipulate is back down to "safe" levels till all fat cats can safely exit their bets.