The inverted VIX shows a daily downtrend is ongoing and suggests we'll see a 22.88% drop (22.88% jump in VIX ) over the next few days. Considering NFP on Friday, this might not only happen sooner than forecasted, but might be a conservative estimate.
I'm holding SPY shorts (among other trades), and looking to hold for an extended period of time if we break under the monthly uptrend mode support in SPY . Keep close watch of this chart, and remember to keep position sizes safe, if you're holding trades over the weekend like I'm doing (considering NFP Friday).
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Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.