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VIX– After breaking out above Cycle Top resistance, VIX dropped to the bottom of its trading range, making a new low in a supernormal collapse. This is referred to as a Broadening Bottom or Megaphone formation which is a reversal pattern. Its average target matches that of the Wave A top in mid-December.

SPX bounces from Long-term support.

The SPX rally fell short of its… Continue reading

VIX– VIX gapped through its declining trendline, giving a confirmed sell signal for SPX. There is a potential Head & Shoulders formation with implications of a much higher outcome once the neckline is exceeded.

SPX challenges Long-term support.

SPX challenged weekly Long-term support at 2058.31 a second time, closing just above it. This leaves SPX on a confirmed sell signal and vulnerable to a… Continue reading

VIX– VIX gapped through its declining trendline, giving a confirmed sell signal for SPX. The rally has resumed with implications of a much higher outcome.

SPX challenges Long-term support.

SPX challenged weekly Long-term support at 2056.19, closing just above it. This leaves SPX on a confirmed sell signal and vulnerable to a drop to or below double trendlines near 2025.00 (also round number support at… Continue reading

VIX– VIX closed above Intermediate-term support at 13.68, maintaining the aggressive sell signal for SPX. A breakout above its descending trendline and prior high at 15.74 will announce the resumption of the rally in VIX and confirm the sell signal in the SPX.

SPX closes beneath Short-term support.

SPX closed beneath weekly Short-term support at 2108.79 but hasn’t yet closed beneath Intermediate-term support at 2096.52.… Continue reading

VIX– VIX closed above Short-term support at 13.10 and Intermediate-term support at 13.63 maintaining the aggressive sell signal for SPX. A breakout above its prior high at 15.74 will announce the resumption of the rally in VIX and confirm the sell signal in the SPX.

SPX closes beneath Short-term support.

SPX closed beneath weekly Short-term support at 2110.53 despite a massive effort to make a… Continue reading

VIX– VIX challenged its Short-term support at 13.13, then closed above Intermediate-term support at 13.66, maintaining the aggressive sell signal for SPX. A breakout above its prior high at 15.74 will announce the resumption of the rally and confirm the sell signal.

SPX closes a second week beneath two major supports.

SPX remained beneath its Intermediate-term support at 2096.70 despite a massive effort to regain… Continue reading

VIX– VIX broke out of its Ending Diagonal trendline and closed above weekly mid-Cycle support, giving it a confirmed sell signal for SPX. The anomalous earlier breakout is due to a Megaphone formation not visible on a weekly scale.

SPX has broken two major supports.

SPX has broken both its weekly Short-term support at 2100.83 and Intermediate=term support at 2096.87. The reason that both supports… Continue reading

VIX– VIX made a new Cycle low on Friday, May 22. A close above the 50-day Moving Average at 14.94 may break out of the declining wedge formation and confirm a sell signal for SPX.

SPX may be ending it sideways consolidation.

SPX made a new intra-day high on Wednesday (2134.72) and possibly its final closing high on Thursday (2130.82). A loss of Short-term support… Continue reading

VIX– VIX made a new Cycle low on Monday, May 4, then proceeded to run through all the resistance levels before closing near the low of its reversal pattern. A close above the May 6 high may confirm a sell signal for SPX.

SPX trendless market (top) may be ending.

SPX closed the week on a high note, but did not exceed its April 27… Continue reading

VIX– VIX made a new Cycle low on Monday, then proceeded to run through all the resistance levels before closing at an 86% retracement and a credible reversal pattern. A close above last week’s high may confirm a sell signal for SPX.

SPX fails at a second attempt at a new high.

SPX made two lower highs, the second lower than the first, while making… Continue reading