Volatility trend
Updated
I made this VVIX/VIX chart a few days ago and drew a few resistance channels, which have been tested a few times in the past weeks. Today's volatility spike marks a major breakout.
Quite the bear signal. 180 billion in AAPL value wiped out today, many more billions gone throughout tech. Is the bubble pop complete? Let's see what Friday holds. September starting off pretty grim, but as a fundamental bear this is what I've been waiting for.
Quite the bear signal. 180 billion in AAPL value wiped out today, many more billions gone throughout tech. Is the bubble pop complete? Let's see what Friday holds. September starting off pretty grim, but as a fundamental bear this is what I've been waiting for.
Comment
This idea preceded the big tech dump and therefore would call it a good forecast...today closes with a small candle directly between the summer S&R lines. Today VIX came down but closed still above the support line...if September remains bearish we might see a more gradual decline compared to the March sell-off, but a break below about 3.75 on this chart would indicate a severe pullback still underway.
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