In this last week we have witnessed how volatility likely could continue to head south even more. Like many strategists out there who have remained highly skeptical of this long lasting rally such as Art Cashin from UBS who reports every morning from the floor of the NYSE, the market reaction in these last couple of days is unfortunate since we were expecting an important correction lead by an important bottoming formation of the major volatility indexes.
Again and given the latest market signs, it seems highly likely that these indexes could probably break below important support levels as early as this week. Analyst and strategists like to refer to equity support and resistance levels, but we at VF have rarely given any importance to these, however, DJIA 10.000 could soon be well behind us.
Again and given the latest market signs, it seems highly likely that these indexes could probably break below important support levels as early as this week. Analyst and strategists like to refer to equity support and resistance levels, but we at VF have rarely given any importance to these, however, DJIA 10.000 could soon be well behind us.
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