Waiting for Godot is a play by Samuel Beckett, in which two characters wait for someone named Godot, who never arrives.
Waiting for a market to bottom feel a lot like waiting for Godot. You are always wondering when he will show up. I think we are closer to the end of the play then the beginning and patience is our friend. The market will bottom and there will be a great buying opportunity but we must wait for a couple of things to take place. First and foremost the market must make a new bottom. This mean the S&P must break down below 1,200. Second, we must see a reading of over 30 on the VIX (Fear) Index. As the chart above shows we are currently at 25 so 5 more points up and we have a green light to be a buyer.
Waiting for a market to bottom feel a lot like waiting for Godot. You are always wondering when he will show up. I think we are closer to the end of the play then the beginning and patience is our friend. The market will bottom and there will be a great buying opportunity but we must wait for a couple of things to take place. First and foremost the market must make a new bottom. This mean the S&P must break down below 1,200. Second, we must see a reading of over 30 on the VIX (Fear) Index. As the chart above shows we are currently at 25 so 5 more points up and we have a green light to be a buyer.
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