as we can see, S&P 500 in bullish trendline, yesterday VIX already touch 11.5 level. If this level continue grow to 14, then big possibility that S&P 500 will hit 0.09 fibonacci (major trendline) at 2448.6 If major trendline break down, i will update my analysis.
Hi Dian, bulls will defend the uptrend line with everything they've got however, there is small gap the market has not been filled at 0.14 level ( where the hammer touched the uptrend line) - the market can find some support there. There has not been a significant retracement on any of the US indecies since last Nov. Let's see if the VIX will tells if SPX is ready to take a dive. Thanks for sharing!