Monday, November 17, 2008

VIX Wedge Update


Steve said...

If you don't trim off the tails at the bottom of the candles, this still looks like a head and shoulders to me.

Phantasmix said...

FWIW Point-and-Figure price objective for VIX is 98.

Stewie said...

steve. i also had this pattern as a h&S formation at one point too but check out the MACD as it is trying to cross from underneath and also check out today's candle, if it starts to build momentum higher then you can wave good bye to the H&S sceanrio and 100 is the next target.

phanta: 100 is a target i have had on the VIX for a number of weeks now. Also i had a $5 target for UYG. both look within spitting distance now. two or three nasty days and we are there.

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