Vxxlong
Is it finally time for a vol event?I know everyone thinks volatility is dead because it largely hasn't moved for the past year, however, I think that could be changing in the near future.
The market has largely felt similar to how it did before the covid drop. People ignoring the risks right in front of them and blindly thinking the market will continue up.
The chart is telling me it might be time for volatility to pick up. Maybe Thursday or Friday this week?
If we do get a vol event, I think it'll be a sharp one, with ~100% rise likely up into the $40 resistances. Let's see if it plays out.
I bought a lot of calls just incase it happens.
$VXX looks like it's about to explode higherSo far the selloff has been pretty orderly the entire year and trying to play volatility hasn't worked. I think that's about to change.
$VXX has been consolidating in these two channels and looks like it's about to explode higher. If we can see $VXX get above $21 or so, I think we're about to see a huge move in $VXX. Similar to what we saw in March 2020.
I've marked off key levels of resistance on the upside. Let's see if it plays out over the coming weeks.