That’s right. I just wanted to impress upon how well and cleanly the technicals bounced on the support of 45,067 that was previously resistance of Dec 2024 and Feb 2025.

I just got back to my desk a little while ago, but noticed that. I think we’re going to start to get away from that lock-step inverse correlation where, although rising crude will still be a headwind for stocks, we could also start to see stocks fall along with crude as well.

Not much to say on that as the $VIX drops when the stock market goes up substantially. The bounce off those key support levels & price targets on so many key indexes, sectors, & stocks on Monday, which have resulted in significant rallies so far, where 110% the reason the $VIX pulled back.

Once the bounce/rally has fully run its course AND assuming that Monday’s lows get taken out in the coming days, weeks, or possibly months, as I still expect, the $VIX will be climbing again & most likely take out its recent high.

Basically, to be long/bullish the S&P 500 is to be short/bearish the $VIX and vice versa. $VIX is still elevated & this stock market rally could get sold into & quite likely end anytime this week or next, in which case the $VIX will start climbing again.

No, I don’t trade or track the Dow as it is a useless, antiquated index IMO. Created 150 yrs ago (1886) & using the stupiest/flawed methodology of a price weighted index, coupled with the fact it only included 30 stocks (how can that possibly be accurately representative of the US economy & stock market).

No offense to you or anyone who trades it as the technicals (charts) should work just as well as any other index, sector, or basket of stocks, as it is the sum of their prices. Personally, I focus primarily on the S&P 500, Nasdaq 100, &Russell 2000 indexes. (and yes, I highlighted that they all 3 hit key support levels on Monday, where a bounce was likely so I assume that would have also been the case with $DJIA)