VIX on Triangular Track!

CBOE:VIX   Volatility S&P 500 Index
Expanding triangle
Target: 49.5

In Elliot-Wave theory, triangles have 5 sides and each side is usually subdivided into 3 waves. Analysis valid as long as the channel stays intact. Equities will micro-bottom mid-June before the commencement of the melt-up rally!

Earlier analysis:
48.5/49.5 achievable with an extended market correction. Implied volatility uptrend due to fundamental reasons ( Inflation /War).

S&P 500 target would equate to 3950-4000 in this projection!
NASDAQ: 12K (Wave 1 top) or 11K (200 Week EMA / 50 Month EMA )


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