Can St. Nick help break key resistance levels?

Posted by Chris Kimble on 12/23/2011 at 8:11 am; This entry is filed under S&P 500, VIX.

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Is St. Nick the missing ingredient needed to break these key resistance levels in the 500 index and the VIX? The inverted VIX reflects good feelings going into the upcoming Holiday week.

Speaking of good feelings, I want to take this moment and wish each of you around the world a safe and healthy Holiday season. 

Chris "Kringle" 

 

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6 Comments

  1. This, is a VERY important chart! December 23rd, 2011 at 8:17 am

    This chart is worth bookmarking Chris. ! On the eve of a European disaster with potential defaults galore, markets may be on the verge of a significant breakout. !

    Sure does speak to the potential for resiliency of these markets.

  2. Dave December 23rd, 2011 at 8:51 am

    Merry Christmas to you too, Chris. Keep up the fantastic work. Your site is one of my favorites in the entire cyber universe.

  3. Santa's Elf December 23rd, 2011 at 8:55 am

    I think its wait and see til next week. Merry Christmas to you Chris!

  4. Dave December 23rd, 2011 at 11:32 am

    I think that SPY resistance and VIX support makes for a great time to pick up some SPY Puts. Wow, are they cheap… though oddly (or perhaps fittingly), they are firming up today despite the index rally after selling off throughout December. VIX is alone in signalling risk-on right now. From the charts I’m looking at, Emerging Markets, Commodities, High Yield, NAS & Small Caps are all indicating continued caution relative to SPY. Only VIX is saying otherwise. I suspect that in this light-volume, melt-up environment, VIX is the fibber in the group. But as your chart indicates, Chris, we should find out one way or the other very soon!

  5. Van December 23rd, 2011 at 11:50 am

    and Merry Christmas to you and your family!!!

  6. Dan Johnson December 24th, 2011 at 6:06 am

    Chris -

    Merry Christmas, and thanks for all of the insight this year!