VIX trading in a bullish pennant pattern. We have seen two really nice bullish bounces off the support trend line in this pennant pattern. I expect this next support line touch to be nothing different (assuming VIX touches support). VIX targets: 25.41 resistance first, then follow-through to 28.93, eventually reaching the top of the upper bound of the pennant pattern around the 33 area. With that in mind, I am beginning to load up on short positions and closing out some of my higher beta long positions.
This is not trading advice. Good Luck!
This is not trading advice. Good Luck!
