VIX made a wide swing between weekly Intermediate-term resistance at 20.21 and weekly mid-Cycle support at 15.97, but did not make a new low. An aggressive buy signal (NYSE sell signal) may be confirmed with a rise above Long-term support/resistance at 18.40. A breakout above the neckline suggests a very robust follow-through rally that may last several weeks.
VIX made a swing low at Long-term support at 18.21 on Friday morning, then rose to challenge Intermediate-term resistance at 20.27. While the VIX is on a long-term sell signal, this level would be considered “neutral.” However, the buy signal (NYSE sell signal) may be confirmed with a rise above the Short-term resistance at 22.66. A breakout above the neckline suggests a… Continue reading