Intraday Market Thoughts

Archived IMT (2009.04.09)

by Ashraf Laidi
Apr 9, 2009 15:55

VIX gaps down to 37.30 from yesterdays close of 38.85, reflecting a solid burst of optimism and eyeing 7-month lows. S&P500 approaching gradually nearing the 860-870 territory, which is the threshold of +29% gains from the March lows. The question remaisn whether the VIX gap down is a sign of stocks peak as was the "VIX gap up" on March 2 when stocks bottomed. USDJPY has yet to breah above 101.60.


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