~reposted from pebblewriter.com
VIX has very nearly reached the channel mid-line, Inverse H&S and Crab pattern targets I posted back on April 18 [see: VIX at a Crossroads], though we're 2 days behind schedule.
Our IHS target was 28.10 and the Crab pattern target was 27.12, expected to occur on May 30.) Friday's high was a very close 26.71. It's close enough to be considered complete, but a little follow through Monday morning would tie things up in a nice neat bow.
VIX has very nearly reached the channel mid-line, Inverse H&S and Crab pattern targets I posted back on April 18 [see: VIX at a Crossroads], though we're 2 days behind schedule.
Our IHS target was 28.10 and the Crab pattern target was 27.12, expected to occur on May 30.) Friday's high was a very close 26.71. It's close enough to be considered complete, but a little follow through Monday morning would tie things up in a nice neat bow.
Interestingly, Friday's high also nails the .382 retrace of the drop from last August's high of 48 to the recent 13.66 low. The implications are potentially huge.
...continued on pebblewriter.com...
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