$VIX & $SPX at current levels to diverge
Good Morning!
The
VIX is having a hard time in this area since March of 23.
The
SPX is the most oversold since 9/22 but it can get more than what it currently is.
However!!!
Peak oversold seldom is the bottom!
Only 12/18 was an oversold bottom.
1/22 was a temp bottom.
Big bounces are likely best to short unless there's a big change in technical data. As we stated before, likely rate cuts next year to help if #stocks (#economy) are still weak in 2024.
SPY
The
VIX is having a hard time in this area since March of 23.The
SPX is the most oversold since 9/22 but it can get more than what it currently is.However!!!
Peak oversold seldom is the bottom!
Only 12/18 was an oversold bottom.
1/22 was a temp bottom.
Big bounces are likely best to short unless there's a big change in technical data. As we stated before, likely rate cuts next year to help if #stocks (#economy) are still weak in 2024.
SPY
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