~reposted from pebblewriter.com
With all the volatility these past few days, VIX has put on a spectacular show -- gaining 3.69 yesterday alone (18.6%). The weeks ahead promise to be just as exciting, but not for the reasons most expect.
As discussed back on June 2 [see: Channeling VIX] the "fear index" was on track to complete its Crab Pattern (in purple below) and Inverse Head & Shoulder pattern targets. These targets of 27.13 and 28.20 respectively were originally set back on April 18 [see: VIX at a Crossroads] when VIX was at 18.70.
VIX topped out at a nearly perfect 27.73 on June 4th and has been sliding ever since -- with yesterday being the notable exception.
Now, as many investors are scratching their heads, we'll plot out what appears to be a very clear path forward.
With all the volatility these past few days, VIX has put on a spectacular show -- gaining 3.69 yesterday alone (18.6%). The weeks ahead promise to be just as exciting, but not for the reasons most expect.
As discussed back on June 2 [see: Channeling VIX] the "fear index" was on track to complete its Crab Pattern (in purple below) and Inverse Head & Shoulder pattern targets. These targets of 27.13 and 28.20 respectively were originally set back on April 18 [see: VIX at a Crossroads] when VIX was at 18.70.
VIX topped out at a nearly perfect 27.73 on June 4th and has been sliding ever since -- with yesterday being the notable exception.
Now, as many investors are scratching their heads, we'll plot out what appears to be a very clear path forward.
...continued on pebblewriter.com...
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