VIX testing resistance

Discussion in 'Technical Analysis' started by reno4nook, Jan 23, 2009.

  1. the VIX index is testing resistance around the 46 level on the 60min chart.

    There have been 4 recent attempts to break through that have been rejected.
    Now a 5th try will probably happen on Monday.

    Usually when there are multiple attempts to break resistance in a descending wedge, the attempt eventually succeeds.
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  2. maxpi


    Good, maybe IB will lower some margin requirements some more..
  3. FWIW........if you draw a line from the Jan-15 peak to the Jan-20 peak AND keep your green line along the bottom, you have an expanding wedge. That is generally perceived as being a continuation the upside. We'll see how it plays out. :cool:
  4. gkishot


    Resistance or support?
  5. Although its very early, its begining to look like a breakthrough

    Financials, which have been the big laggards this year are up 4%

    Today's tick chart is very bullish as well with the lowest tick values only around -200