$VIX - IMPORTANT NOTE -
Added 2024-04-16 14:19:05 +0000 UTCOne of our main guides over the last 16 months was following the $VIX, so much so that it was once a Top 20 Chart as we relied on it so heavily to guide us.
With that being said, the chart is showing significant changes to its trend.
The price has broken out of its yellow channel, which it has been in since Sept 2022, which was the start of the impulse wave.
The price has not retested this channel yet, so this will be important.
Also, look at what the 50 Day MA is about to do.....it is about to cross through the 200 Day MA to the upside.
This is a golden cross and for the $VIX, this is not a good signal for the market, means volatility and declines are prominent.
We are painting a picture of the market for ourselves here:
Gold and Silver climbing quickly
War tensions in the middle east
Oil rising
$SPY and $QQQ losing their 50 Day MA
Mega Caps losing or about to lose their 50 Day MA
$VIX up 25% today and broke out of a long downward trend and a golden cross next
CPI turning HOT
US 10 YR moving parabolically
These are signs of a market on the ropes.
