VorheesIn July I posted a prediction that VIX would break down August 1st and my target at the time was 14-15. However, it is known that the V is for Vorhees, he doesn't stay down and controlled for long, bullish Navaro200 nested in larger bullish Navaro - as well as harmonic on the stochastic (and severely oversold) - indicates we will see a spike in the coming weeks to the 0.618... Expectations:
- Activation level is 21.18, if closes above that expect explosive spike to 24 minimum but likely 29-30
- If fails to activate then it could continue down to 14-16 level but that would be awkward with the SPY showing signs of near-term pullback on a wave 4 following this local blowout top (should see the downside begin early to mid week (16th seems most likely)
- If activates and hits 29-30, will likely bullback to retest 24 in sychronicity with SPY wave 5 late August/early Sep.
- After this it has the setup to breakout temporarily through the equilibrium point where supply = demand (around Sep 26 2022) - this would be in syncronicity with an ABC corrective wave in the SPY before it begins larger degree wave II
- Depending on the extent of SPY ABC (i.e. 0.5 or 0.618, or 0.786), VIX goal target in early October is 36-47 (possibly even 51).. It will die again from there like Friday the 13th and likely around Halloween.
Last part is a joke but the rest is no cap.
Playing Aug 26 VXX calls for exposure to this move, will sell when VIX hits 29-30 and then re-enter October calls upon a realized bounce at 24 end of August.
#NoTfInAnCiAlAdViCe
