The current VIX chart is posted below.
Take a look at the VIX since the beginning of July. What you should notice is that the VIX had a low on July 20and then its lowest low on August 9th., and then a low on August 19th.
What is a possible description of that action? Well, the VIX could be forming an inverted Head & Shoulder pattern which would have upside implications if the pattern completes. And since the VIX moves opposite to the stock market, Caution would be in order during the coming days.
Comments
Log in or sign up to join the conversation.