Things continue on track, though as we discussed yesterday VIX has jumped the gun — reaching our Mar 14 target today, three sessions early.
ES is closing in on our next upside target (though it’ll need help jumping the channel midline at 2761.) And, SPX should have no trouble reaching today’s target at the purple channel midline (about 2757.)
It remains to be seen whether or not VIX’s early breakdown from its rising channel will present a problem. The dramatic drop that was due next week is essentially being paid forward. But, it’s all good as long as the algos continue to see drops.
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