VIX - A storm is brewing

13 Eki 2023

VIX may have reached a significant bottom during today's volatile trading session. As seen below, the recent rug pull shown on the 1D chart has finally concluded; almost to the exact penny.



When we step back and look at the weekly timeframe, VIX is currently bouncing higher off of a major bullish divergence that was built up over the past several months.

The RSI is also retesting the neutral line (50) and VIX itself has closed on a major support level.

If VIX continues its move higher next week, we could see a significant drop in the S&P500



Disclaimer:
Any information contained within this post does not constitute any financial, investment, or trading advice. Trade or invest at your own risk.

13 Eki 2023

Not

VIX is up decisively today as we expected. This is only the beginning...

26 Eki 2023

Not

VIX is up significantly from the initial posting of this idea. We see a mostly sideways consolidation occurring above the key level of $20. Multiple rug-pulls are occurring on the smaller timeframes, but larger timeframes seem clear (for now). Bearish momentum continues to build.