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EWTrading12345abc

Higher odds of rebound

Long
Volatility S&P 500 Index (TVC:VIX)  
EWTrading12345abc  
TVC:VIX   Volatility S&P 500 Index
Chart Patterns Wave Analysis Beyond Technical Analysis
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chartpattern waveanalysis beyondta
Commentary:
  • VIX gapped up and is close to previous peaks we saw in the year when market dropped substantially.
  • There is uncertainty in terms of FOMC meeting outcome on Wednesday 2pm and geopolitically issues pertaining to China.

Observations:
  • Market is extremely short at the moment
  • VIX is close to previous highs
  • VIX is making higher lows and lower highs

Opinion: There are higher odds of seeing a market rebound in a short term period. Not a certainty but only HIGHER ODDS.
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