Daily Report : VIX drops below 50-day average; Another thrust narrowly missed; An overwhelming number of buy signals

Jason Goepfert

2020-04-14

The VIX "fear gauge" crossed below its 50-day average for the first time in almost 2 months, after showing a high level of panic. That has usually led to shorter-term chop, but was typically a sign that the worst was over long-term.; Once again this week, stocks missed triggering a technical buying thrust by the narrowest of margins. A trio of signals popularized by Wayne Whaley in a 2009 white paper were on track to trigger this week, but didn't quite make it. Even so, when stocks matched the conditions they have seen over the past week, they continued higher.; More and more stocks within the S&P 500 have triggered buy signals using a Point & Figure methodology. This follows a period when almost all of the stocks had been on sell signals. When this measure moves from a deep oversold to deep overbought reading, it has only triggered at important inflection points.

Introduction

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Conclusion

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