What Do I see here ?! The Double Top Neck didn't get retested (red circle)
Ladies and gentlemen.... this means only one thing - if a retest hasn't appeared yet, it is more than likely to reverse the other way in the near future - and that is no surprise to me.
So far VIX has been following my lines - and I expect nothing else for the next months. We are now at support, ofcourse consolidation may happen but overall this should be the local bottom and we should start going up - and from here - in theory - sky is the limit. Anything can happen any time. And sadly it won't happen when expected so just keep monitoring. Yesterday's FOMC was really bearish and gave no hope for bulls.
Now stocks and risk-on assets have a pretty open highway to the downside.
Ladies and gentlemen.... this means only one thing - if a retest hasn't appeared yet, it is more than likely to reverse the other way in the near future - and that is no surprise to me.
So far VIX has been following my lines - and I expect nothing else for the next months. We are now at support, ofcourse consolidation may happen but overall this should be the local bottom and we should start going up - and from here - in theory - sky is the limit. Anything can happen any time. And sadly it won't happen when expected so just keep monitoring. Yesterday's FOMC was really bearish and gave no hope for bulls.
Now stocks and risk-on assets have a pretty open highway to the downside.