Friday, October 2, 2009

Is volatility turning up?

So, yesterday's start of 4Q has given some clarification about where we go.
First of all, the VIX (implied volatility) has closed above 100 DMA, first time  since the beginning of this rally.















Homebuilders index has closed bellow the previous lows of August and September.















On the other side, Gold and Silver still looks good, showing the potential of new highs in the nearest future.















So, I'm sticking to my current opinion from the previous post about the NASDAQ and most markets in general. We should have some more upside movements, however some non confirmations will show up.

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