Since 12/16, we’ve been describing how $VIX $VXN have been forming an “anchored-to-rise” pattern. And on 12/23, we wrote: “$VIX $VXN patterns right now suggest that a shallow dip is coming. It most likely will appear right after Christmas.”
Meanwhile $SPX $NDX $RUT ignored the message from $VIX $VXN, marching gleefully up along with volatility since 12/16.
But on Friday 12/27, $VIX $VXN finally got some attention as $SPX $NDX $RUT dropped sharply at the start of the day. That, we believe, is the shallow dip mentioned above.
So is it done?
The full article covers:
Market Internal Indicators
Support & Resistance Levels
Planning Your Trades
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