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.

continued…

Right now, I’m focused more on the RSI channels, using harmonics to help target moves that don‘t involve new lows. The 60-min RSI looks like the next move is up (potentially confirming the latest FW) meaning a continuation of the corrective wave in stocks.