Two Down…

SPX has now achieved two of the three milestones that could see it return to an unfettered bullish state of affairs.  Thanks to the continuing and precision meltdown of VIX, it was able to not only hold the IH&S neckline, but pop back above its Fib 2.24 extension at 2703.62.  And, lest there was any doubt about the importance of this resistance (now support), consider the machinations that went into holding it throughout the rest of the session.Now, it’s ES’ turn to assault its own 2.24 at 2728.79.  The Dow’s rising wedge hints at a bit of drama, but VIX still has plenty of downside potential.  Can the bulls hold on this time?continued for members


Sorry, this content is for members only.

Click here to get access.


Already a member? Login below

Remember me (for 2 weeks)

Forgot Password