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Volatility S&P 500 Index
Long

Time To Buy Some New Shorts. VIX To Bounce Upward.

146
VIX trading in a bullish pennant pattern. We have seen two really nice bullish bounces off the support trend line in this pennant pattern. I expect this next support line touch to be nothing different (assuming VIX touches support). VIX targets: 25.41 resistance first, then follow-through to 28.93, eventually reaching the top of the upper bound of the pennant pattern around the 33 area. With that in mind, I am beginning to load up on short positions and closing out some of my higher beta long positions.

This is not trading advice. Good Luck!

Gooby_Trades
Chart PatternschartpatterntradingpennantpatternrepeatingpatternshortsetupTrend Analysisvolatilityindexvolatilitytrade

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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Chart PatternschartpatterntradingpennantpatternrepeatingpatternshortsetupTrend Analysisvolatilityindexvolatilitytrade
Gooby_Trades

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.