Earlier today [see: Close but no Cigarro], I opined as to how SPX wasn’t done back testing its IH&S because — among other reasons — VIX hadn’t even reached, let alone reacted off our target of 18.31 (the solid red line.)
Never mind the “reached” part. VIX nailed our June 12 forecast right at the close. I don’t know about you, but I get all tingly inside when a 22% move comes in right on target like that.
We’ve hit three bulls eyes in a row with VIX — including the interim top on April 10 [see: Bottom Fishing], calling the June 4 high of 27.12 back on April 18 [see: VIX at a Crossroads] and, now this. The fourth will be a little trickier.
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