SP500 charts show that is targeting 3030 to 3100 showing short term higher low and wave 2 behavior.. First hurdle that need to cross is 2930..but pattern looks bullish in short term...
Fib 1.232 to 1.618 are target -3030 to 3100... stop loss is always 1% in our trade.. it is better to buy on dip as well.,,rather than the chasing the rally today...
-Today we are going to show Vix Index on daily chat compared to SP500 (orange line).
The first thing we noticed is the Wedge formations on the chart.
-As Vix starts going down, SP500 keeps rising, the concept is that people trust on the strength of the bullish trend, on this process we can see the Wedge patterns on VIX, and bullish trends on SP500.
-To see...