Updates for Wednesday 9/23/20

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Below is a time-delayed excerpt from our live updates for members.

Updates 12:30 AM EST - Wednesday 9/23/20

$VXN

• $VXN 200-hour EMA green line is still rising.
• $VXN candles are descending towards its 200-hour EMA green line.

This means that the bearish headwinds for $NDX eased up a bit today.   This enabled $NDX to rise some amount.

However, as shown in its hourly chart below, $VXN is likely to anchor at the red rectangle near its 200-hour EMA.  If $VXN does, this is an anchor-to-rise pattern.   When $VXN resumes its rise, it means the bearish headwinds are accelerating, and $NDX will likely drop sharply.​

​$VIX
$VIX is forming the same pattern of ascension that it formed back in Feb, as shown on its daily chart below.   Despite spending the last 7 sessions futzing around,  $VIX has shown that it is clearly anchored in its red zone.   If it continues staying at this level, $VIX is capable of breaking out.   

Again, this would be very strong bearish headwinds for $SPX IWM.

Table of Support & Resistance Zones
We've​ updated the orange resistance zones and the green support zones to reflect the short swings within the down channels.

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