VIX (in Red) has broken down of its symmetrical triangle. It is now at 23 level. There seems to be less fear in US market now compared to a few weeks ago.
The Dow has rebounded and is close to testing the upper limit of its symmetrical triangle as well.
USDPJY is also refusing to go below the 21 day exponential average (in Green).
This is also good for the Dow as a strong USDJPY usually coincides with a rebound in Dow.
Seems like we will see more strength from US this week. But keep your fingers crossed as there are important economic data coming out from US this few days including PPI, Initial Claims and Consumer Confidence.
3 comments:
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sonic
The dow and the vix are not related.
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