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If you are an aggressive short-term investor, willing to trade quickly, you might like the above Ascending/Descending combo the VIX/500 Index looks to have created over the past few weeks. These patterns are not full proof, yet more often than not this combo leads to higher stock prices and a lower VIX!
Knight…Thanks for sharing…This pattern needs the 1,220 level to break to the upside to come true…if the 500 can’t break the 1,220 level, the bear flag becomes very possbile!
A lot of people say this is a bear flag formation and the SP will head lower from here. I guess time will tell.
Bill…Thanks for the kind words and especially for the heads up on my error!
Appreciate your viewership and to take the time to send this comment and correction,
Chris
Love your charts!
On this chart, line 2 on the SPX should be labeled 1220