Like the title says. $VIX on a breakout is very very dangerous.
This could likely signal a market correction as $VIX even had a retest of previous resistance and pushed up. I don't like to call tops or bottoms in the market but this breakout has me bearish. Along with this, this month's $SPY candle is a bearish pin bar which is another part of my bearish thesis....
When Indicies/Market ETF's breakout, that is when things get hot.
Major indices like $SPY and $QQQ are at ATH's and pushing every few weeks while $IWM had been a big laggard.
However, $IWM had broken out and it looks like it is trying to pull back for a retest before heading higher. I am bullish on $IWM as this has consolidated for many weeks and it's time for...
$ETH has provided us with many opportunities to profit.
This 4-hour chart is a perfect example. All the boxes represent support/resistance zones.
Each level was support and then became resistance or vice versa as the price continued higher. You can use these levels as "risk levels" for your entry and exit.
Each level is an opportunity to scale out or scale...
