Rare Batman Pattern Forming in VIX
Just as it seemed as if the end of the world was nearing, I am pleased to report a rare Batman pattern forming in the VIX (and in the implied volatility of the SPX and SPY).
The chart below shows the right wing formed two weeks ago, just as panic was first setting in; the head was completed last week, when the situation looked most bleak; and now the left wing is taking shape as the forces of good seek to gain the upper hand over the forces of evil.
Once the Batman pattern is completed, perhaps as soon as tomorrow, I can only conclude that Gotham City will likely be spared the full force of the financial Armageddon that appears to be bearing down on us.
Godspeed, Batman. Every minute counts…
[source: International Securities Exchange]
13 comments:
I shall challenge the batman pattern... as his right wing will be broken and move upwards... rather than back to earth.
"Why... so... serious?!"
Brilliant
Ha ha, good one.
ss
Alas, the Joker seems to have stepped in today, and the evil shorts appear to have found their second wind...
On a more serious note, do you think the rest of today's action negates the nascent batman pattern?
Just in time for Halloween!
A bottom seems to be particularly elusive today, Woetra. Buyers seem to be afraid to step in with any conviction.
A VIX spike from 52 to 75 in just two days says a lot.
If this gets any worse, we just might need superhero intervention to save the day...
Cheers,
-Bill
We need the dynamic duo working together. Once we also see the Robin pattern, that should confirm the bottom is in. ;p
Jimmy
Bill, thanks for the response. One wonders what the conspiracy theorists who decried the free-market-undermining efforts of the Presidential working group on financial markets, aka the Plunge Protection Team, think these days--on the one hand, we've seen massive governmental intervention, but I don't see the invisible hand of the PPT (and perhaps a cabal involving the usual suspects such as GS and JPM) directly purchasing equities...
Out of interest, what service is that chart from?
The chart comes from the ISE.com
That was very funny! Thanks.
You got a laugh out of me!
ha, nice post
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