It’s close. I showed the neckline at 20.84, and VIX hit 20.91. Hard to draw things so precisely that you can be sure to the penny, and I imagine there would be a bounce at the neckline regardless of whether or not we push through.
reeodd
Agreed. The reason I’m showing the VIX not breaking through is because then
a move might be obvious so if it doesn’t fully break through the bulls can claim victory and more can be caught to help fuel the next move down. I’m still watching for a move to mid 1380’s to set up another H&S before the larger on is in full swing down to 1290-1300. It would catch more bulls off guard and keep bears questioning their positions so seems likely to me.
We’re on the same page re the psychology, though I’m leaning more toward the neckline holding this time. See: https://pebblewriter.com/back-test-complete/ I got stopped out for nice gains around 1349.50, will probably re-short here, again with tight stops.
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4 responses to “VIX Inverse H&S Completes”
Pebble, Curious I’m showing the just touching the neckline of the I-H&S but not through yet.
It’s close. I showed the neckline at 20.84, and VIX hit 20.91. Hard to draw things so precisely that you can be sure to the penny, and I imagine there would be a bounce at the neckline regardless of whether or not we push through.
Agreed. The reason I’m showing the VIX not breaking through is because then
a move might be obvious so if it doesn’t fully break through the bulls can claim victory and more can be caught to help fuel the next move down. I’m still watching for a move to mid 1380’s to set up another H&S before the larger on is in full swing down to 1290-1300. It would catch more bulls off guard and keep bears questioning their positions so seems likely to me.
We’re on the same page re the psychology, though I’m leaning more toward the neckline holding this time. See: https://pebblewriter.com/back-test-complete/ I got stopped out for nice gains around 1349.50, will probably re-short here, again with tight stops.