Not sure what it means.
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Here is the same chart but I switched to Log. Note that the current down slope is riding the pink trend line, but only in log.
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Cleaner version
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This close up is very interesting.
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just touched off the previous low and made a bounce. Seeing serious support test in both S&P and NASDAQ.
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End of day update
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Trend AnalysisVIX CBOE Volatility IndexvixxVXXWave Analysis

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