Once the down leg has hit - either wave 3 or 5 and a retrace completes, we should be off to the down-side races again. If a new all-time-high ensues instead of a retrace then a recalculation will be forthcoming. Daily VIX has penetrated up beyond it's 200ma [29.0] so that could be significant. VIX volatility (VVIX) looks to have bottomed in the last session breaking the previous low from June 1 2020 and currently bouncing above 2 other lows subsequent to June 1 [intra-day 12:00 noon]. We would like to see the daily VIX 50ma begin to close the gap on the 200ma from here as that would support the anticipated scenario that could be developing.
See Critical Long-Term Review Here
This Information Is For Entertainment Purposes Only. Financial Loss Can Occur From Investing.
No comments:
Post a Comment