VIX SPIKES Above 20 as Markets Go Full RISK OFF Mode

08.02.24 Final Bar host David Keller, CMT recaps growth stocks continuing to plummet on weaker economic data and the VIX signals a potential correction. He focuses on the rally in defensive sectors like consumer staples, highlights stocks like GDDY still showing strength, and breaks down key levels to watch for the Magnificent 7 stocks.

👀 See what better financial charting can do for you!
👍🏻 If you enjoyed this video be sure to hit the THUMBS UP

00:00 - Welcome to the Show
01:01 - Market Recap
04:21 - S&P 500 Large Cap Index ($SPX), Volatility Index ($VIX)
06:42 - Apple (AAPL), Microsoft (MSFT), GoDaddy Inc. (GDDY)
09:17 - XLU:SPY, StockCharts Market Carpet

👍🏻 FOLLOW US
#stockcharts #thefinalbar #davidkeller
@StockChartsTV @CNBC @markets

❗️DISCLAIMER
Past performance is not indicative of future results. Neither the Show Participants
Strategies or investments discussed may fluctuate in price or value.

Investments or strategies mentioned in this show may not be suitable for you and
you should make your own independent decision regarding them. This material
does not take into account your particular investment objectives, financial situation
or needs and is not intended as recommendations appropriate for you.

You should strongly consider seeking advice from your own investment advisor

–––––
ℹ️ ABOUT STOCKCHARTS

ℹ️ ABOUT STOCKCHARTS TV
StockCharts TV is devoted exclusively to financial charting and market analysis from the web's top technical experts. With a constant stream of technical charting-focused content, there's always something insightful, educational and entertaining to watch on the channel.

[cedykeman]

Thanks for knocking out a show on such a stressful day. The market reminded of the phrase; a smooth sea never made a skilled sailor.

[joserivera]

This correction was expected but how low will it go?

[shanew]

NVDA cost basis $88 since April, have held since but the over month beat down has grown old. Stay the course or sell like everyone else? What say you?

[mrkttrdr]

Thanks for taking time away from ur busy schedule, always great insight!

[truthwillalwaysprevail]

You provide the best Market recap
Thank you so much for your work

[jameswang]

Market 1st bottom could come as early as next week; if not, will happen in the week of August 12. By the way, VIX hit 29.35 today !

[tonytr]

Great show !!! i will be watching from now on !!!

[t.cheers]

That's what happens when you go to Vegas 😂

[georgemcduffey]

Stan Weinstein was doing an interview for the Traderlion Conference last weekend and he said it was a good time to be paying attention to 50-Day-SMAs. Then on Thursday NVDA/QQQ (sometimes they feel like one in the same) were both gapping up to their 50MA and rejected hard. SPY & QQQ end up closing the week under it, and IWM just above its...There's a reason many of the legends say to keep it simple; The 50 and 200MAs tell a heck of a story. As always, thanks for your two cents.

[titusrider]

This doesn't look like a head-fake ? As sentiment shifts from bullish to "Oh this is just a pullback" to "uh-oh" to denial to total capitulation?

[NoName-qkfw]

Is it true that a reversal in the yield curve can be another good indicator of present market behavior as is the VIX? (subscriber)

[joserivera]

$2.9 trillion lost on stock market today.

[Fifamud]

I wish I had more faith about my visa/MA theory ... :)
I am mostly in cash, yet the leftovers massively dumped in trash today :)

[johnasfour]

We may bounce from the 100 MA, similar to what happened on April 23 and during the previous bull trend.

[simonhobday]

Brilliant to get a Friday wrap.... At last

[crystalw]

Just don’t understand why Real Estate looks good. Although decreasing interest rate is good for Real Estate, but what if the recession kicks in? A lot of people said soft landing, but the market looks like trading recession now.