A timely update to the previous Vix chart after clearing single targets:
Upon review a nice sweep of the lows is once again in play via Fed for Q419, a 25bps cut will be enough to bring the Vix back under the infamous 15 again...meaning a healthy sweep of stops at 12 is in play and would trigger a cascade of orders, the perfect environment if you want to build a floor as we enter into a VERY chaotic Q1 2020.
Good luck all those in Vol and positioning with macro portfolios going into year-end.
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This is starting to look very good
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Eyes on Vix today as we begin to dip our toes into "capitulation waters"
Great article. Wished i had seen it before :-) I am trying to, understand what you mean by 20xx ==>12 xx ==> 38xx ==> ( just grabbing the 85 which looks like ur objective !). Is that Fibo ? Thanks for explanation.
ridethepig
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Thanks @model421 for the kind words! This was the flow we were tracking; we were looking for a test of 20 first, followed then by a sweep of the lows at 12 which then opened up the board and unlocked a move towards 38 (TP1) and 85 (TP2).