Cboe Volatility Index (VIX) Futures
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VX Bull Flag Retest

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We had another very large VX divergence this morning after VX broke out of its bull flag and soared above 19.20. However, ES remained flat and VX came all the way back.

Now is the critical retest of both the bull flag and 19.20. If it doesn't hold id expect a squeeze on ES, but this is a great spot to enter short ES.or SPY and stop out if VX can't hold.

Remember the simple analysis for this week was:
VX above 19.20 and QQQ below 485 = bearish.

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