SPY BUYING SUPPORT at 210 AFTER VIX SPIKE RETRACED

I added some colorful green shaded areas to point out the logic behind the "POST VIX SPIKE RALLY SUPPORT". I published this concept over a year ago and highlighted it again back on July 13 when VIX was retreating sharply, implying some confidence was returning to the market together with liquidity to the options market. Now that the market is rolling over and looking like it wants to turn down, I wanted to highlight where the support level comes in from the strong-hands buyers who buy in the face of uncertainty.

210 is the top of the "box" which starts at the 204 level.

Keep this level in mind and do some research for yourself so you can see the logic of this indicator and how to read the intentions of the truly well-heeled investors in the market.

Tim

10:28AM July 23, 2015