Things were so fast today that I didn't even get a chance to update the blog - amazing action -
The extremely bullish setup that happened today at 92 on the DIA was a combination of extremely high VIX (60), very high intraday put volume (2 x's call volume) coupled with diminishing hourly price ranges (65 min chart).
Since rebounding to 96+, the put/call has retreated to 1.3 (taking some bullish steam off) and the VIX has retreated to 54 (also taking some bullish steam off)... so ...
For those of you that know me, my IM's and emails today caught the rally from the 92 level to the 95 level. There is so much volatility/movement in the market that it is hard to believe we could move 60 pts in the DJIA every few minutes.
Tim
3:08PM
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