VIX took a dump today. Currently at the lowest levels of the month and back inside a downchannel:
stockcharts.com[l,a]dacaynay[db][pd20,2!f][iut!lp14,3,3!lh5,5!lb14!li10,10!la12,26,9!ll14][J8819018,Y]&pref=G
It appears to want 27.50 or lower.
Meanwhile, the VXN melt-a-thon appears to be complete or near complete. It appears to be targeting 44.50 or lower.
stockcharts.com[h,a]daclynay[pb10!b20!d20,2!a42.78!f][iLh5,5!Li10,10!Lp14,3,3!Lb14!La12,26,9][J6783156,Y]&pref=G
The full stochs on the weekly VXN had a d-blow, but are in a falling wedge. When the wedge breaks up, we'll know a big drop is at hand:
stockcharts.com[h,a]waclynay[df][pb10!b20!d20,2!a42.78!f][iLh5,5!Li10,10!Lp14,3,3!Lb14!La12,26,9][J6783156,Y]&pref=G
The lower BB on the weekly VXN is at 44, but there is a falling support line that could be in play at around 40. |
