I follow the VIX ,
using to continually confirm price moves in the S+P 500, on a 2 Hour Chart.
On Fiday 9/14, the VIX broke out of a 2 hour down trend line, mid-day,
only to pull back late in the day to close back below the Trend Line.
That turned out to be the re test of the breakout point.
This morning the VIX is up over 5 %,
strongly breaking the downtrend line,
and confirming the downside price break of S+P 2900.
The risk inherent now is a potential Double Top in the S+P 500.
If confirmed later on. that would be a dangerous TOP to have in place,
Professional money managers +market participants are clearly aware of that risk right now.
THE_UNWIND
using to continually confirm price moves in the S+P 500, on a 2 Hour Chart.
On Fiday 9/14, the VIX broke out of a 2 hour down trend line, mid-day,
only to pull back late in the day to close back below the Trend Line.
That turned out to be the re test of the breakout point.
This morning the VIX is up over 5 %,
strongly breaking the downtrend line,
and confirming the downside price break of S+P 2900.
The risk inherent now is a potential Double Top in the S+P 500.
If confirmed later on. that would be a dangerous TOP to have in place,
Professional money managers +market participants are clearly aware of that risk right now.
THE_UNWIND