Using a harmonic pattern detection script developed by reees alongside RSI with a 15 minute timeframe, we see that
SPY has a huge upside potential to ~$588 while the
VIX is showing that it has a high chance to sell off. With the RSI break above its moving average for
SPY and below the moving average for
VIX, the patterns potential completion is strengthened. Usually, based on historical data, when both these instruments show an anti-symmetric pattern potential, it typically has a high chance of succeeding and reaching the potential price zone.
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