It's been a rough month for stocks and crude oil. Could these two indicators be suggesting that a panic in fear has run out of steam?
This two-pack looks at the fear indicators in the Nasdaq (VXN) and Crude Oil Volatility (OVX).
Both were at the highest levels in years back in 2008. Both peaked in 2008, as they created monthly bearish reversal patterns.
Turing the page to March of 2020, the Nasdaq Fear Index could be double topping at the 2008 highs and the Crude Oil Fear Index is hitting the highest level in history.
While hitting these lofty levels, as the month is coming to a close, both look to be creating the largest bear reversal patterns in the past 13 years – at the same time!
If these patterns are sending us a correct signal, both of them are suggesting both have created short-term highs this month.
Which stock should you buy in your very next trade?
AI computing powers are changing the stock market. Investing.com's ProPicks AI includes 6 winning stock portfolios chosen by our advanced AI. In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. Which stock will be the next to soar?
Unlock ProPicks AI
