Algos Still Going Strong

VIX has been spanked by over 14% since Friday afternoon, aiding a bounce in stocks that breaks plenty of chart pattern rules.  Yesterday, it did more than backtest the falling white channel.  It broke down, back into the channel overnight — all in order to ensure another gap higher today.2017-01-04-vix-60-0615

Combined with well-timed bounces in USDJPY and CL, we’ve seen backtests develop in SPX that would ordinarily mean a downturn.  It wouldn’t be such a big deal if they weren’t setting up in practically everything I chart.

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