VIX: Another Warning Sign!Hello friends, today you can review the technical analysis idea on a 1M linear scale chart for the Volatility S&P 500 Index (VIX).
In this chart, you can see the VIX moving along a support trendline. When the VIX spikes upwards that means the markets (specifically S&P 500; generally all markets) start to move downwards. Every few years the VIX starts to slowly move upwards on a new support and resistance trend line before coming back down to the bottom support line. The current structure of the VIX looks very similar to the formation of the Great Recession so I show that on the chart as a possibility. I also note two support and resistance lines which the VIX could move on as it moves higher. Lastly noted is the RSI which is moving up a support line. This is a monthly chart so have some patience.
I may be completely wrong with the prediction of the VIX moving higher, but with the inflation issue, global economic condition, stock markets crashing, companies preparing for a downturn, interest rates moving higher, the US Dollar Index (DXY) moving higher and crypto market crashing, I would assume my prediction may be on point.
Click on the chart below on why I exited the crypto and stock market in December 2021:
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
