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$VIX Daily R-saucer Confirms Bullish Market Trend

The $VIX daily chart developed a RSQR Saucer with the CCI closing at -170.59. For the $VIX: daily is trading below the Ichimoku cloud, daily 3LB has 6 red lines (bullish market trend), daily Kagi went red on 10/5, daily Renko has 2 red bricks, weekly Kagi has been red for months, and weekly Renko has 2 red bricks (the first one was laid down in 6/10)...only the weekly 3LB has white bricks (remaining bearish for market). The $NASI remained black today.
The following charts have had RSQR saucers meeting buy parameters: TNA weekly (9/27/10), AGQ weekly (8/30/10), URR weekly (9/20/10), URE daily (10/7/10), and UCO daily (10/1/10). Things are off and running again after the recent consolidation. Kenton Jockey.

Indicator Formulas

Real Estate ETF & a $VIX Watch

The daily URE (2X RE Bull ETF) chart looks good as of EOD. The weekly DRN (3X RE Bull ETF) has been bullish since 9/13/10. The daily DRN RSQR may form a saucer tomorrow. URE was up 0.34% and DRN was up 0.73% today. An initial position in DRN was established today. Meanwhile, a $VIX Watch is in place. The $VIX has been consolidating (alternating Green-Red-Green-Red MA arrows, predominance of an absolute CCI <100 since mid-September, a flat TSI and a non-trending (falling) RSQR since 9/30). The TSI has been falling since 10/4 and RSQR is 0.0114974. RSQR is being monitored for saucer formation and the CCI is being monitored for a sustained breakdown below 100. Eastern Kingbird...don't mess with this bird's real estate...it has been known to attack low flying airplanes...

What's RSQR (R-squared)?

1. First a Line of Best Fit Formula is generated.
A line of best fit (or "trend" line) is a straight line that best represents the data on a scatter plot. This line may pass through some of the points, none of the points, or all of the points.
2. The R-squared is calculated to see how well the best fit formula actually fits the ETF Price data.
The table is a calculation of the 14 period weekly AGQ (silver ETF) R-squared. The result is the same as appears on the Think or Swim Platform. The Weekly AGQ closes from the past 14 weeks is 81.23% correlated with the line of best fit. A rising R-squared that goes over 70% is a nice trend...

AGQ, UCO & TNA Remain Bullish

AGQ Weekly Chart and Silver Bull...

UCO & TNA still Bullish

Bought UCO two days ago...after the R-squared formed a saucer, the KH was white, the AO green, the TSI was rising and the CCI was no longer consolidating. Weekly UCO chart is being monitored. The $NASI went positive again and TNA laid down a white brick on 3LB. Oilbird.