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skfe
Dec 1, 2021 1:40 AM

$VIX breakout. Long

VOLATILITY S&P 500TVC

Description

Like the title says. VIX on a breakout is very very dangerous.

This could likely signal a market correction as VIX even had a retest of previous resistance and pushed up. I don't like to call tops or bottoms in the market but this breakout has me bearish. Along with this, this month's SPY candle is a bearish pin bar which is another part of my bearish thesis.

VIX breakouts are dangerous for markets as this could mean huge retracements in the major indices and overall markets.

Again, not calling a top but this breakout could continue and we could see a HUGE retracement in the markets.
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