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Bottom To Break Down Or Up?
- What happens to S&P500 in the 6000-6025 range?
- Will DXY stay below 105 or base out to test 108?
- Will the VIX fall to 15 or below?
The chart to the right shows the VIX in grey & the S&P500 in pink. I use the VIX to guage general market option premium. When the VIX spikes up, option premium tends to inflate.
On 3.13.25 SPY hit a low of 549.68, for about 6 trading days it began to move up a little but mostly sideways.
However today it gapped up over the 9day exponential moving average to close over the 20 day simple moving average.
It looks as if we will, at minimum, have a short term rally.
Will short term turn into long term or will the selling continue after a short covering rally?
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