The panic is over, but doesn't mean the bottom is in.
VIX/VXO has peaked I believe and right in line with 2 days before the 8th new moon after the equinox, or Carolan's crash low model which worked for all the previous crashes over the last 100 years.
Sometimes it is the low as per the US low on Oct 20 1987 but it took us another 22 days.
What dates remain for me?
The US low is still Oct 10 so +21 like the top gives Oct 31 here and is within a day of 1974 decline I think.
The current pattern looks like it needs a little bounce and another lower low. That could produce a Nov 6 low after a post Obama victory selloff and get us into 3450 area.
I will keep in mind 21 days from any new US low.
expectatioons for tuesday, page-8
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Last
7,989.6 |
Change
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Mkt cap ! n/a | |||
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| XJO (ASX) Chart |