VIX weekly looks ready to rally and we are seeing bearish pressure develop on the SPX weekly chart, we have been in an incredible rally now since the initial crash in March 2020 and now we have broken this rallies trend and retested, Like I said Investors are starting to be curious about the future with Volatility rising and confidence decreasing, we are seeing the USD$ Rally higher and higher, FED wish to reduce the balance sheet and reduce inflation as being talked about in the last few FOMC meetings, we can expect at some point Stocks to return back down from this almighty climb as interest rates increase and Asset purchasing reduces. So because of this I have decided to view the SPX500 weekly chart, and you can see price is breaking the volume at the top of the chart and we can aim for the 3.4k/3.5k levels where we have seen typically more transactions in the past.
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Watch for a pullback of last weeks range first! Sorry forgot to put an arrow on the chart!
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Lovely profits
