Daily Market Brief

Phoenix Rising?

Phoenix RisingWe’ve been watching the $VIX chart quite a bit lately and last week in particular we were wondering about an upcoming MACD cross-over. It was rudely interrupted on Friday with the auto ramp following the #NFP miss.

But today on Monday the $VIX seems to be following through by not only crossing above the 50MA, but also seeing a solid MACD cross. The big resistance ahead is the 200MA. A close above at some point this week may be the signal needed to see further downside and the Phoenix may finally be rising from the ashes of central bank serenity. We shall see:


For now all we can do is watch in awe as currencies are all over the map following Mario Draghi’s latest attempt to produce growth by punishing savers:


Or maybe it’s all the Scots’ fault. Secession has been tried many times before. In the end someone always gets drawn and quartered:


But the cavalry always shows up at the end of the day and slaps Phoenix back down. Let Phoenix rise. All the underperforming funds would welcome it. They could use a chance to catch up:



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