SnP500 bearish divergence
By the solid blue line represented S&P500 shows lower low and lower high in April .
Relation of VXV (CBOE S&P500 3-M Volatlity) and VIX (CBOE Volatlity) - candle chart - gives us information about the VIX term structure (VXV/VIX>1 => contango, VXV/VIX<1 backwardation). The lower the number, the higher the possibility of correction within 3Mo (by exhausting) according to the option community. The blue and green lines are the MA(50) and MA(20) respectively.
S&P500 achieved new hihgs by the begin of April (see interrupted blue line on the top of S&P500) while both MA's ware falling.
The MACD, built on the VXV/VIX, shows bearish divergence also. This MACD is very far from the underlying market and wouldn't have any relevance alone. A reinforcing/confirming supplement to the other signs.
Relation of VXV (CBOE S&P500 3-M Volatlity) and VIX (CBOE Volatlity) - candle chart - gives us information about the VIX term structure (VXV/VIX>1 => contango, VXV/VIX<1 backwardation). The lower the number, the higher the possibility of correction within 3Mo (by exhausting) according to the option community. The blue and green lines are the MA(50) and MA(20) respectively.
S&P500 achieved new hihgs by the begin of April (see interrupted blue line on the top of S&P500) while both MA's ware falling.
The MACD, built on the VXV/VIX, shows bearish divergence also. This MACD is very far from the underlying market and wouldn't have any relevance alone. A reinforcing/confirming supplement to the other signs.
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