2 recent wedges
have been followed by a 25%+ pop in the VIX
. We're now looking at an even stronger based wedge
and I think we're going to see the upper teens next week, considering the Ukrainian referendum this week, coupled with multiple tops in the market, failing to close at new highs over the last couple of months. Small caps, biotech, tech, have all sold off and to me, this looks like the classic correction set-up, where the riskier, growth based stocks sell off first and then are followed by the more established value stocks.