Now or Never

June 21 should have been the day we saw a bearish 10/20 cross in ES yielding a backtest of the 3.618 Fib extension.Instead, we got one of those silly, algo-feeding collapses in VIX that sent stocks screaming to new all-time highs and ES has remained in a bullish 10/20 cross. With rising channels about to clear important Fib levels, the time to backtest some of that support is here and now. It’s not as crazy as it seems.

For whatever reason, VIX hasn’t yet experienced a bearish (bullish for stocks) 10/20 cross – something that nearly always happens before an equity rally. This suggests we might finally get the pop and drop we’ve been waiting for. Stay tuned…

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