Tuesday, April 1, 2014

XIV Soars...4.1.14

XIV continued its acceleration today, gaining over 3% by the end of the day while the VIX collapsed almost 6%.  The DOW did penetrate 165 today...it's taken a while since we projected that target a couple weeks ago, but momentum in all the indices pushed it over the top.

Utilities were weak (XLU) while QQQ has again gained the momentum edge...always a bullish sign.
Checking the SPY TrendX in the right side panel suggests there's a lot more opportunity to the up side before we hit the next overhead resistance level.

If interested, here's another article on high speed trading following yesterday's post.