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VIX Update for close of August 26, 1997:
OK, been waiting all week for that big move. Tomorrow should be it. Down
then up.
The Modified Volatility Index ended another day on the neutral line while
the issue and volume oscillators remained almost unchanged. For
directional clues we have to look at the AMOSS826 chart. That chart shows
the buy alert from the VIX Z score and Put Call Ratio still in effect from
the close of 8/22. Some analysts would say the signal aborts after two
days. However, the signals have been known to be early and we have a cycle
low and trend change date scheduled to strike on 8/27. The AMOSS chart also
shows the 5 and 20 day components in the Oversold Zones and the 90 day
having dropped from extremely overbought to overbought.
BobR
http://www.oextrader.com
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