Due to a last minute flight change, today’s post will be short and sweet. VIX, which had broken back above the yellow trend line representing key support overnight, plunged 14% to make new lows.
Stocks had one of the biggest days in history, despite the fact that inflation remains quite high and the Fed is still withdrawing liquidity. It’s exactly what the Inverted Head & Shoulders pattern promised. But, it’s still irrational.