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My beloved son finally returns home tonight, so I’m going to be involved in that happy homecoming – – – but before I get into that, I just wanted to do a short, sweet post about this chart of the VIX, which I’ve sexed up with a few lines and circles:
[edit] Simple chart update turns opinionated [separate the two, as needed]… and the title is changed from ‘US Stock Market’ to reflect said opinions.
The first chart shows the progress the SPX is making on our 60 minute view. It turned up above the support level noted a couple days ago and is now logically dwelling at the pattern neckline. This is still bullish obviously, having made a higher high. Resistance and the measured target (blue arrow) are noted.
It’s not every day you see a common stock cross above $200,000 per share. In fact, I don’t think there’s ever been any such day before. Let us have a moment of respectful reflection for Uncle Warren and his astonishing victory:
Diana Shipping, shown below, is coming up on major overhead supply. I’m shorting at present price levels with a stop at 10.74.
