VX Bull Flag
We had a VX explosion earlier and a large divergence between VIX and VX, which has came back into line since. Now VX is holding above the lows from earlier in the session and is forming a nice looking bull flag on the 15m. We've seen some relief, but I think this is far from over. VX will most likely keep rising for at least a few days or at least sustain the same level IMO.
Note
VX rejected the top end and came all the way back to the bottom end of the flag today before bouncing heading into close. I see this action as quite bearish. VX just held an important support level while ES and NQ hard rejected important resistance areas. Now with more pain for SMCI ahead after earnings, this is looking rough for tomorrow.
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ko-fi.com/advancedplays/tiers
Short Thesis:
advancedplays.com/short-thesis.pdf
Disclaimer:
The ideas I post do not always represent my positions and they are intended for educational purposes.
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