VIX to the Rescue Yet Again

Head & Shoulders patterns are fairly reliable harbingers of downturns.  The one which has been setting up on ES for the past couple of weeks promised a 100+ point plunge.It was just now busted by none other than VIX – the algos’ favorite signal – which caused ES’ right shoulder to marginally (by 1.50 points) exceed the head. With the pattern now officially busted, there’s no downside risk, right?  If Congress’ failure to reach a stimulus compromise and foreclosure protection doesn’t matter, then sure. No more risk.

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