VIX challenged its weekly Short-term resistance at 16.19, then closed below its weekly mid-Cycle support at 14.92, postponing the weekly buy signal. The Broadening pattern “throwback” inside the Megaphone appears to be complete. The next move calls for a breakout to new highs. While traders are anticipating a calmer season ahead, the VIX warns the opposite may happen.
— VIX made an important Cycle low beneath the upper trendline of its Ending Diagonal and just beneath its mid-cycle support/resistance at 14.32. Coming up next is a Primary Wave  which may meet or exceed the Head & Shoulders target listed on the chart.
SPX stalls at its Ending Diagonal trendline.
SPX hit overhead resistance at the upper trendline of its Orthodox Broadening Top… Continue reading
— VIX challenged weekly mid-cycle resistance at 14.27, but closed the week beneath weekly Long-term support at 13.53. This week’s breakout above last week’s high may be a signal to exit equities. VIX may have become “unrigged” on Friday.
SPX may have closed beneath its Ending Diagonal trendline.
SPX appears to have closed beneath the lower trendline of its Ending Diagonal… Continue reading
— VIX made a deeper low on Monday, but not beneath than the December 26 low at 11.66. An Intermediate Wave (2) low may have been put in. With no help from the Yen Carry trade, slamming the VIX can help turn equities positive at the end of the day.
SPX may have made a reversal.
SPX probed higher on Monday to 1902.17, then made… Continue reading