Strawberry Blonde's Market Summary: Is Mr. Fat Finger getting itchy?...

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Thursday, April 21, 2011

Is Mr. Fat Finger getting itchy?...

A breakout one way or the other may not occur from the present Daily trading ranges of YM, ES, NQ & TF until the results of the Fed meeting on April 27 are known (until then, the recent trend is sideways...translation...expect more chop & whipsaw action, imo...I am always cautious of potential "fat finger" days in zones like these which have a lot of large-range candles):

http://www.screencast.com/users/strawberryblonde/folders/Jing/media/ea923d8a-53c1-41c3-9384-a04c14be99bb

USD is not looking healthy at all (below is a Weekly chart with Regression Channel...price closed the week below the channel mean...it could theoretically fall to the lower channel line):

http://www.screencast.com/users/strawberryblonde/folders/Jing/media/2238bb8e-d7e8-44e8-91b8-2cb8e7003c2b

The VIX is down in low levels seen in 1991-1996 and in 2004-2007 as shown on this Monthly chart:

http://www.screencast.com/users/strawberryblonde/folders/Jing/media/e632fc0a-1286-42c7-b555-20dd86592d51

Below is a Weekly chart of the VIX with Regression Channel...if it crosses below the mean and falls to the lower channel line, it would have to go to MINUS-zero by the end of next week in order to reach it! The VIX can't continue downward in this channel at the same pace ad-finitum...translation...the markets need to pull back to achieve a more healthy balance: