Trader J's Inner Circle Message Board

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Strategies & Market Trends : Trader J's Inner Circle

NVDA 172.73

+1.1%

9:39 AM EST

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To: Trader J who wrote (19802)	8/30/1999 11:26:00 PM
From: JEB	Read Replies (1) of 56535

J, The VIX is looking awful bullish. It has formed a reverse or inverted Head and Shoulder pattern. The possibilities are the VIX will run up from here (the market falls next couple of days), or turn down to 22 area (in which case it is forming the right shoulder and should break down the market in a week to 10 days), or fall to 20 (in which case we have a double bottom and should break down the market in a month), or it could re-test its low 52 week low (in which case we could really be looking at a big drop in about 45-60 days). I don't see any way the VIX could form a positive chart for the market. Even if it trades sideways, its eventually going to head back to 30+ soon. (IMO) Good trading, JEB

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