CLICK ON CHART TO ENLARGE ITStock Market Commentary and the $VIX - The long term support of 34-35 on the $VIX has been reached. I think with the S&P close to 900 we will start to drift sideways to lower in the next few weeks. The summer is approaching, and the markets have had a huge run. Typically we have spring highs with a drift lower into summer. I don't think we will see the lows of March, but we could reach a level on the S&P of the low 800's.
My bullish sentiment is now becoming neutral.
Please leave comments on your thoughts.
Happy trading!!!
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