How Low Can It Go?

Futures are melting up again on yet another pre-opening lower-low plunge by VIX. With the other factors up against hard stops, all eyes continue to be on VIX – which has already spoiled the bears’ fun on numerous occasions.

The last one was this obvious backtest opportunity a couple of weeks ago. Everything was set up perfect for a backtest of SPX’s 3.618 extension…

…when VIX was unceremoniously crushed without even getting a crack at its SMA200.It was clumsy and obvious…but effective.

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