VIX SPIKES! Is a Market Correction Coming?

07.18.24: Final Bar host David Keller, CMT shares a market update including key levels to watch for the S&P 500 index, what a VIX above 15 means for a possible market correction, the improvement in value-oriented sectors, and why DPZ may be the world's most perfect illustration of the value of technical analysis.

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00:00 - Welcome to the Show!
00:37 - Market Recap, S&P 500 Index ($SPX),
07:23 - Volatility Index ($VIX)
08:55 - S&P 500 Bullish Percent Index ($BPSPX), Nasdaq 100 Bullish Percent Index ($BPNDX)
10:12 - XLK:SPY, XLI:SPY, XLU:SPY
12:13 - Semiconductor ETF (SMH), Domino's Pizza (DPZ)
14:54 - Eli Lilly & Co. (LLY), U.S. Home Construction ETF (ITB)
16:23 - DR Horton (DHI), Netflix (NFLX)

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[StockChartsTV]

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[tanleproe]

Thanks, Dave. You're right about the 50-day MA. Most tech stocks already touch or crossed below their own MAs, except Apple. I expect it to close 10% higher than it opening price ($212) in this month of July. Tech stock earnings will start next week. GL

[joehoward]

I always looked at a $VIX being above 18 as bearish. Anything below 18 not so bearish.

[SarkisKlinik]

How did you know new buyers did not come to buy semiconductors? Thanks

[SarkisKlinik]

How to differentiate a distribution day from correction by technical analysis ?Thanks

[AliKatAlways]

Man, the past week and a half, especially the last couple days, handed my butt to me. 😅 Just when you think you're starting to get a handle on what you're doing, stocks said "Sit down, rookie!"

[titusrider]

Yes it was a painful day " Thank you, sir! ...May I have another? " 😅

[hankbank]

I noticed a nice triple bottom on that VIX chart though 📈

[SarkisKlinik]

Hi, many stocks like NVIDIA AVGO are already went into correction. Amazon Meta and lilly also went into correction. You mean a market correction is coming ?

[rustinrodgers]

The fed cutting rates at the end of this month is clearly what the market is expecting, but I think it would be a mistake to do it this early and we're going to see some more volatility in August.

[KQQLCHEV]

PUT A PSAR ON YOUR CHARTS --- YOU'LL NEVER EXPERIENCE ANOTHER LOSS LIKE DPZ (Dominio's) 😎