More of the Same

With CL finally melting down and the USDJPY failing to break out (despite four close calls yesterday), it’s up to VIX to prop up stocks today…if it can.  It’s tried to break out of its falling white channel six distinct times since the start of the year.  Each time, it’s been smacked down — effectively putting a stop to the decline.  Will this time be any different?  We remain short from 2297.02 and our downside targets remain the same.

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