By Sell Puts
The original annotations of this chart were from sunday april 19th, http://adjix.com/quy2. i had highlighted a target area where i felt the vix could realistically spike if we got some strong downward action before the open on tuesday. The lower indicators on the VIX are oversold indicating we could move about the current solid resistance @ 40. The pullback and or pivot i was looking for sunday http://adjix.com/kx5c confirmed today on average volume. Tomorrow will confirm the the trend is indeed back in the downward channel indicated here http://adjix.com/s99r . I am still cautious as to not being adequately hedged here, vix again becoming elevated means wild swings are upon us.
Drumbeat: June 2, 2012
5 hours ago
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