The #VIX is on the verge of renewed volatility.
Following the spike at the end of February, volatility then calmed from mid-March onwards.
Immediately afterwards, we observe the formation of 5 bearish waves ending around mid-August with an exhaustion point S13
A new bullish wave (1) was then triggered and peaked with a SU9. Wave 2 came back to test a solid support (purple line) and is now triggered.
Wave 3 (the most powerful) can now be seen with targets drawn in green. (Corresponds to Fibonacci projection)
Today's recent news of Donald TRUMP's positive test for COVID19 seems to be the trigger signal for wave 3.
The premarket data also seems to be pointing in that direction.
A closure below 21 would invalidate this scenario.
Following the spike at the end of February, volatility then calmed from mid-March onwards.
Immediately afterwards, we observe the formation of 5 bearish waves ending around mid-August with an exhaustion point S13
A new bullish wave (1) was then triggered and peaked with a SU9. Wave 2 came back to test a solid support (purple line) and is now triggered.
Wave 3 (the most powerful) can now be seen with targets drawn in green. (Corresponds to Fibonacci projection)
Today's recent news of Donald TRUMP's positive test for COVID19 seems to be the trigger signal for wave 3.
The premarket data also seems to be pointing in that direction.
A closure below 21 would invalidate this scenario.