The Volatility (VIX) is gently coming to the bottom of its swooping arc, just as the momentum on this bounce of the SPX is slowly burning out at the top of an arc. So, the question on my mind, as we approach the top of the pink and intersect the top of turquoise rising wedge (both reversal patterns) is: As the pink wedge fails to support the bulls and begins to give way as we progressively pivot to the succesively less optimistic channels, which of the darker downward channels will take finally take control?
The blue ghost pattern is from the covid crash. astonishing how well it lines up with he levels and channels... the mathematicians like Fibonacci would be amused for sure!
The blue ghost pattern is from the covid crash. astonishing how well it lines up with he levels and channels... the mathematicians like Fibonacci would be amused for sure!