NQ VIX (VXN) Giving a Warning 7/20/2020
NQ's VIX (VXN) closed higher today. Usually, if the NQ goes up, then VXN goes down. That's the usual method.
The other reason why a VIX would rise is because there are SO many calls by retail traders at a lightning fast rate. The VXN would recognize this as a buying climax.
The NQ entered into a pre-earnings hype rally. This seems like a good set up for a decent run up then a pullback.
The XLF was set up the opposite way. They were shorted to a major support at 22.50. The expectation for banks was Armageddon. It turns out that it wasn't as bad as expected, so financials rallied.
Here is the question: What would happen to big tech stocks if the expectations are really, really high? Earnings need to be astronomical to be considered a beat. If not, then the big tech may share the same fate as Netflix in post-earnings.
This seems like a very good excuse/cover up for institutions to start selling more tech shares for the distribution cycle.
The other reason why a VIX would rise is because there are SO many calls by retail traders at a lightning fast rate. The VXN would recognize this as a buying climax.
The NQ entered into a pre-earnings hype rally. This seems like a good set up for a decent run up then a pullback.
The XLF was set up the opposite way. They were shorted to a major support at 22.50. The expectation for banks was Armageddon. It turns out that it wasn't as bad as expected, so financials rallied.
Here is the question: What would happen to big tech stocks if the expectations are really, really high? Earnings need to be astronomical to be considered a beat. If not, then the big tech may share the same fate as Netflix in post-earnings.
This seems like a very good excuse/cover up for institutions to start selling more tech shares for the distribution cycle.
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