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Updates 9:09 AM EST - Thursday 8/6/20
Updates 12:50 AM EST - Thursday 8/6/20
Short Term: $VIX $VXN
Short Term: $SPX $NDX IWM
Short Term Support & Resistance Zones
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Short-term Trade Setup
The last significant signal from $VIX was the bullish reversal for $SPX $NDX $RUT on 7/30. Since then, despite issuing minor bearish signals every morning, $VIX has not issued a major bearish signal to end the current short-term bullish mood.
We don't expect to see this major bearish signal on Thursday based on the message from $VIX $VXN. But there is a probability of $VIX showing a minor bearish signal to start the day, similar to Wednesday. For $SPX $NDX $RUT, this means a possible minor pullback to start, followed by bullish reversal.
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