Lesson in Internals - VIX and Advance Decline Signal Risk OFF
The market has had a tremendous rally, but as traders we must realize that no rally can last forever, whilst i am bearish on the market over the longer-term (years), you simply cannot argue with the injection of liquidity from the Fed and the market lover Trump, doing everything he can to keep the market afloat.
So in the next market pullback, i believe it will be time to buy the dip, that being said, the market internals are extremely overbought near-term, so much so, that if one were to buy at these levels, even a modest pullback could be quite uncomfortable to stomach.
With the VIX at extremely low levels over the past few days and record short interest on the VIX, this is signaling a highly complacent market, coupled with a divergent advance decline line, this is telling us to be cautious.
So yes, the market appears to be heading higher, but isn't it better to buy it on sale?
Be patient.
So in the next market pullback, i believe it will be time to buy the dip, that being said, the market internals are extremely overbought near-term, so much so, that if one were to buy at these levels, even a modest pullback could be quite uncomfortable to stomach.
With the VIX at extremely low levels over the past few days and record short interest on the VIX, this is signaling a highly complacent market, coupled with a divergent advance decline line, this is telling us to be cautious.
So yes, the market appears to be heading higher, but isn't it better to buy it on sale?
Be patient.
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