This level on VIX can make the S&P500 finally break bullish

This is the S&P500 on the top chart compared to the Volatility Index (VIX) at the bottom. As you see, VIX rebounded on the 19.20 Support level that was formed by the August 12 Low and that made the S&P500 get rejected on its Lower Highs trend-line that is holding since the start of 2022.

If that upward trend on VIX continues, S&P500 should trend towards its previous Low and if VIX tests its October High, then most likely it will be translated into a Lower Low for the S&P500.

However, a break below VIX's Low, into the Green Zone, should make the S&P500 finally crosses above this 1 year Resistance. Further, a VIX break below the 16.35 Low (formed by the January 04 Low), should technically confirm the long-term bullish break-out. This can be as early as the start of 2023 if VIX's Channel Down is extended.


-------------------------------------------------------------------------------

** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. **

-------------------------------------------------------------------------------

You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁

-------------------------------------------------------------------------------

💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇