Are you watching the VIX?US Major Market Sentiment + The Bulls vs. Bears
Are you watching the VIX?
Last week as the market sold off ahead of Quad Witching options expiration we saw a jump in volatility, as the VIX along with the market broke the range.
The VIX has rallied to the mid-February high, and to the Gap Up mark in March. IMO as the VIX comes down the market may decide to rally.
1. VIX: 21.85; -0.88
2. VXN: 23.58; -0.89
3. VXO: 21.44; -0.53
4. Put/Call Ratio (CBOE): 1.19; +0.07. (12 sessions running above 1.0, Negative sentiment fuels bounces.
Bulls vs Bears
The Bulls are at 37.0% vs 40.9% last. And down 8 pts from 45.2% in 2 weeks. 35% is considered Bullish. They have quickly run back from the mark considered Bearish. Good to see fewer Bulls!
For your reference: To be seriously Bearish the Bulls must run up to the 60% to 65% mark.
The Bears are at 26.0% vs 22.6% last. They were at 20.4% 3 wks ago, and higher than 18.5% a month ago, and moving toward 23.1% at the start April. They were at 28.3% in September 2010, as the market pulled out of its basing and began this current rally.
For your reference: Bearishness hit a 5 year high at 54.4% the last week of October 2008. The move over 50 saw Bearish sentiment%2
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