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Categories:General Market Commentary
Market Breadth Analysis
The 'old VIX' (VXO) peaked at 172 intra-day and closed at 150.
The VIX averaged 18.75 between 1990 and 2007
On average, the VXO is about 4% higher than the revised VIX, so I am estimating a new VIX in 1987 peaking at about 165 and closing at about 144.
there was no VIX or VXO in 1987, but a historical reconstruction of the VXO arrives at an intra-day high of 152.48 and closing value of 150.19 for Black Monday, October 19, 1987 as well as an all-time high intra-day VXO of 172.79 for October 20, 1987
Small cap value index (Superstocks are small cap value stocks by the way) hit a
20 year RSI extreme on 10-12-18. Note that even in bear markets, when the IWN value ETF hits
these RSI levels, a 1-3 month rally typically ensues before rolling over again.
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