The BOE rescues the marketsSeptember 28, 2022 at 16:06 PM EDT
Mid-week market update: Before going to bed last night, I check the overnight market and saw that S&P 500 futures were down as much as -1% and thought, "Here we go again!" I woke to see that the BOE had committed to buying Gilts "on whatever scale is necessary" which sparked a risk-on stampede.
The market was ready to be rescued, it just needed the bullish catalyst. One of the signs of an oversold stock market is the VIX Index rising above its upper Bollinger Band, and the VIX had gone on an upper BB ride for nearly a week. Tactically, the bullish impulse has historically petered out when the VIX reaches its 20 dma.  The full post can be found here. 
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