Thanks MitchWorse... Actually I'm no wiser on how the SPX would go from here. Best to leave it alone to sort itself out! The inverse correlation between the SPX and the VIX is not perfect but can sometimes hint at where the SPX would go. After that 20+ points drop in the SPX, looks like it will be consolidating within another range for a while...
DOWN to end of Wave four of a lesser degree. Chance for a rebound. The DOWN move gains momentum. Beware of the red line.
Mitchworse, ed, ... One more clue: 38.2% retracement. mu. Wait and see if 1067, 38.2% retracement and end of wave four of a lesser degree hold or not .
Thanks Mu, that is a good checkpoint! Incidentally, the VIX seems to be hitting some resistance at the 50% mark too... VIX 90min
Mike, Thanks for your reminder on the Bradley! As our MIA friend used to say..... "time to think of an out of the box count!" So here goes the longshot VIX daily! Inspired by Mike and Mup! This count would REALLY drive both bulls and bear crazy before the huge crash!
1 more test(wave 5) needed in the hourly then indicators are ready for UP... RSI negative reversal target 1060