VIX looks to have completed another falling wedge, falling to 13.51 on Sep 14 — versus the Aug 17 low of 13.3 and the Mar 16 low of 13.66. The 5-year red, dashed TL is currently around 13.24, but there is no evidence that the TL will be tested again this go ’round.
One note of caution: these falling wedges have been busted more times than the Fed’s employment targets. Virtually every one of them has been followed by a tag of the original apex.
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