Breaking Down

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


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