I think there's a large spike coming in VIX despite most people turning bullish on the market and bearish on the VIX.
Price has maintained elevated levels for the past few months, all of the RSIs are in extreme bullish territory and the move looks very similar to the spike that we got on August 5th.
Have no clue what will cause it, whether it's the fed meeting, gov't shutdown or some other outside factor, but the chart is looking like we should see a spike next week up to the $80-103 level.
Let's see how it plays out.
Price has maintained elevated levels for the past few months, all of the RSIs are in extreme bullish territory and the move looks very similar to the spike that we got on August 5th.
Have no clue what will cause it, whether it's the fed meeting, gov't shutdown or some other outside factor, but the chart is looking like we should see a spike next week up to the $80-103 level.
Let's see how it plays out.
Note
Note: the other possibility is that we see a smaller move this week but we don't top until next week.Note
Welp got the flip up right on the pivot this morning. Let's see where this takes us.Note
Welp looking like I'm wrong here unless we see a move start on the pivot tomorrow. Note
I still have a 10hr and 12 hr signal of a parabolic move incoming. Sometimes it's a failed move, sometimes not. I did think the move would happen today, but after Powell's speech the USDJPY sold off (which is what caused the initial selloff), it's currently sitting below support. If the market continues selling and we see a bounce in the vix tomorrow, then I think we could see a move play out between tomorrow and Tuesday.
Everything still looks to me like we should see a vix move, but so far it hasn't materialized.
Note
Based on the chart, looks like the pivot on Tuesday will likely be start of the next move and not a top. Let's see if we see a large bounce next week.Note
If we're going to get this move, it should play out by 4/4. Let's see if we get a reversal tomorrow.Note
Trade looking good now
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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.