VIX is about to make a decision soon. The green line is major support. The red line is major resistance.
T-minus 3-6 trading days before VIX breaks its long-term wedge and make a decision. It's stuck between flag support and flag resistance. Judging by how the price keeps slamming to the flag resistance and the P/C Ratio is low (below 0.75), probability points that the VIX may break to the upside UNLESS the RTY (Financials and Transportation Sectors) rally and sustain it above 1500.
T-minus 3-6 trading days before VIX breaks its long-term wedge and make a decision. It's stuck between flag support and flag resistance. Judging by how the price keeps slamming to the flag resistance and the P/C Ratio is low (below 0.75), probability points that the VIX may break to the upside UNLESS the RTY (Financials and Transportation Sectors) rally and sustain it above 1500.
Note
Well, never mind. The VIX broke out of its wedge today. It used the resistance as support.Note
The VIX broke out. A new wedge will likely form.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.