this strat has a high reliability giving signals. every time spx goes far outside the envelope the index corrects to estimate sometimes crashing down to sss ma or demand zone (the last time it touched that was 1929). if we stay above upper envelope and estimate we could enter a broader matket recovery, but if we see continued downside we are headed much lower.
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heres one way vix futures could be back down to pre corona levels by april 2023 my bias is overall bear in vix if spx keeps over the breakout area