VIX closed beneath its weekly mid-Cycle support at 14.92 this week. The Broadening pattern calls for a throwback inside the Megaphone reaching mid-Cycle support. This pullback in the form of a cycle low extended beyond that point and is two weeks overdue. This is highly unusual for the month of October.
– VIX a rally above weekly mid-Cycle resistance at 14.26 and Short-term resistance at 15.77 put the VIX on a buy signal (SPX sell signal. A rally above Long-term resistance at 16.77 and the Cycle Top resistance at 18.99 may put the VIX into high gear…
SPX has its first weekly loss since January.
SPX gave up all of its gains for 2015 as it… Continue reading
SPX closes in the red.
SPX had its first weekly loss since early April as it fell back inside its Ending Diagonal formation. Lower Ending Diagonal trendline and weekly Intermediate-term support lie at 1876.00, which may… Continue reading