This VIX chart has been on my public charts lists for a while. What is interesting is that a Minor wave 2 down to sub 768 would likely mean a move up in the VIX to where I have "e" on this chart. Then the SPX would reverse hard on a wave 3 up and the VIX will reverse hard down after hitting a long winded triangle "e" wave. Then the VIX would finally lose its 200 DMA support and closes an open chart gap in the 30's that has been open for a LONG time.
Its nice to see that the 2 charts would agree as that would strengthen the likelihood of the move.
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Hi Dan,
ReplyDeleteOn the chart, in red letters, I think you need to correct your statement that the VIX move down will occur as a result of Primary Wave 3, not 2.
OOPS! I was thinking minor wave 3 of Primary Wave 2. SORRY!
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