VIX Ready to Rumble?

Back on the 18th [see: VIX at a Crossroads] we charted VIX’s future, observing that it had fashioned a perfectly good falling wedge into a downward sloping channel. We talked about how a drop to 16 would be the ideal level for an Inverse H&S pattern to develop.

Guess what?

It’s interesting that VIX is reaching its ideal shoulder line just as SPX is reaching its. To make things even more interesting, the RSI channels support the idea of a reversal here.

Stay tuned.

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