Elliott Wave 5.0 "Reboot"

Monday, February 25, 2013

The VIX Rocket, The Gap Is Closed!

        U.S. stocks slide as Italy, sequestration hit - Market Snapshot - MarketWatch
The VIX rocket finally closed off the open gap we have had, and it will remain to be seen if a further move is in store. The VIX is so steep it fits perfectly side by side with the monthly vertical lines. When markets move at the exact same angle due north, then this can be a false move. If it is a false move then the VIX can crash once again creating another new record low. As of todays close even the DOW's crash shows that it may only be a potential correction. If the VIX makes a desperate crash down in a "ABC" fashion then another bear attack will happen. This would correspond well for a triangle type move in the DOW. Gold was indifferent to the DOW crash, as it never even blinked but kept steady and pushed higher. Gold stocks as measured with GLDX never even moved out of its tight 5 cent range.