VIX divergence

Higher close on the SPX, but Mr VIX is not playing ball with a matching new low - classic topping behaviour, unless the market makers can erase this divergence sharpish. A very nice Elliott wave too on the 10 min last 4 days.

Some charts I was looking at this week

Some charts for ya to be going on with.

And a sexy Saturday tune to go with:

I Crave Paris by Aeroplane (Official)

VIX

Mr VIX

The lesson of late would appear to be: wait for a divergence?

Some VIX ratios

$VIX:$VXO is neutral-to-bullish I would say:

Whereas both $VXV:$VIX...

...and plain old inverted $VIX look to be testing prior support from beneath, which if rejected would suggest a down week in prospect.

SPY:VIX topping out?

As Steveo77 noted yesterday, SPX:VIX may be giving us a signal here - is that a flying doji star? Divergences across the internals too.

Mac and Copper and that - diverging again

So there's a bit of divergence here from copper futes and the McClellan.



NY up/down volume ratio too:



And NYAD...



And the high/low ratio too...



But Mr VIX has not issued a sell signal yet, unlike the January top, which might suggest that any dip will be bought? Clearly, I am still eyeing the 76.4%/full moon time window in two weeks time when I say that.



However, a quick peek at 2007 says that maybe we shouldn't expect any cut-and-dried signals: