IWM: Intermediate Term Trading Model = Tuesday Mid-Morning Best Bets for New Capital Getting Serious New highs in major indices coupled with a mega non-confirmation in the CBOE Volatility Index merits scrutiny, especially for any subtle changes in patterns and/or trends. Yesterday, the DJI, S&P 500 and Nasdaq made intraday and closing highs, while the VIX Index continued its monthly long pattern of higher highs and higher lows and in fact was up 8% for the day. This is a mega non-confirmation and yesterday's closing action may have been the beginning of the end of the persistent, albeit frustratingly narrow, advance year-to-date, Monday's Close: Short-Term (5 Min) Chart Patterns: Bearish DJI SPY QQQ All of the above charts closed out Monday tracing out impulsive patterns to the downside on their respective short-term (5 Minute) charts. While financial news headlines may have sounded, "new-highs bullish," internal the shorter-term internal patterns were telling a different tale. Meanwhile, the S&P 500 Volatility Index continued its month-long chop higher and looked spooky critical in both its Daily and Hourly views: VIX Daily VIX Hourly Anything resembling a hard down follow-through this week should be met with bearish positioning, March/April monthly expiration (third Friday's) puts on IWM, SPY or QQQ are all good candidates to take advantage of this nascent downturn. More Fuel On The Fire Interest Rates: Higher TLT 180 Minute Trend Model
