No, not the market. We’re talking about VIX – the traffic cop that tells the algos which way to go. Yesterday, it went as close as it could to breaking down below a key channel bottom – this after a very visible breakdown of the rising white channel on Monday.
What does it matter?
It easily pushed SPX up above its rising wedge to new all-time highs. 
More importantly, it threatens to break SPX out of its rising yellow channel…
…which dates back to the depths of the GFC. Because 12.2% per year isn’t enough, I guess.
continued for members…
Sorry, this content is for members only.Click here to get access.
Already a member? Login below… |