VIX - measuring the volatility over period of time of SPX .
Why do I bring this to your attention?
The more advance you get towards trading and the immense amount of passion I have towards trading, I get excited and explore various other charts support indices which for this instance it's the VIX - Correlates usually highly with SPX. What do I mean?
We are in a wedge formation once again, now the bullish momentum once broken out of the wedge could be towards the upside above the areas of 30/40 areas. If we have an increase of the VIX by checking past history of SPX combined it moves opposing direction.
Now why do i bring this attention to you today?
Fundamental aspects: We have the FOMC today, if its more of an outcome of disappointing news SPX decreasing, keep in mind dxy and yield curve. As well as that, we should keep in mind the key word deflation aspects!
Enjoy.
Why do I bring this to your attention?
The more advance you get towards trading and the immense amount of passion I have towards trading, I get excited and explore various other charts support indices which for this instance it's the VIX - Correlates usually highly with SPX. What do I mean?
We are in a wedge formation once again, now the bullish momentum once broken out of the wedge could be towards the upside above the areas of 30/40 areas. If we have an increase of the VIX by checking past history of SPX combined it moves opposing direction.
Now why do i bring this attention to you today?
Fundamental aspects: We have the FOMC today, if its more of an outcome of disappointing news SPX decreasing, keep in mind dxy and yield curve. As well as that, we should keep in mind the key word deflation aspects!
Enjoy.