VIX/SPX indicator showing possible correction this week
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See notes in chart and info in past ideas.
Chart of S&P today also seems to be supporting this idea. SPX tested the 1.236 fib and was strongly rejected, which also tested the top of the down channel. It seems to have broken out of its rising channel at the end of the day and closed below that strong pink down channel trend line.
Can the FOMO really keep this thing going higher?
Chart of S&P today also seems to be supporting this idea. SPX tested the 1.236 fib and was strongly rejected, which also tested the top of the down channel. It seems to have broken out of its rising channel at the end of the day and closed below that strong pink down channel trend line.
Can the FOMO really keep this thing going higher?
Note
12/31/2020 - Last day of 2020 and this VIX/SPX indicator is still slightly up and has not resumed a downward trend.
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