We noticed that a theory is being offered as to why the current market situation will likely not be close to a major top. The observation is that Vix futures 'open interest' needs to be well above it's 200ma. Using the chart that was offered to demonstrate this, we find potential inaccuracies with data alignments so we necessarily have to dismiss this theory as not being a reliable historical indicator. We do however agree that the observation does carry some merit when close to a very few tops but not enough to be useful.
Aside from this and going one further, since the elevated level on the futures open interest 'print' above 200ma is promoted as being important- the implication is that the value on the 200ma also has significance BUT the 200ma took out the lows from 2016 as recently as this year and has made lower lows and lower highs since 2018.. hmm. IF it shoots up from here dramatically, we will stand corrected but it will need to be very dramatic.
See Critical Long-TermUPDATED 4/12/2021 Review Here
The bots will flag here when they see a top. (1/25/20, 2/20/20, 4/9/20)
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