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.
If you don't trim off the tails at the bottom of the candles, this still looks like a head and shoulders to me.
ReplyDeleteFWIW Point-and-Figure price objective for VIX is 98.
ReplyDeletesteve. 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.
ReplyDeletephanta: 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.