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Time To Buy Some New Shorts. VIX To Bounce Upward.

Long
Volatility S&P 500 Index (TVC:VIX)  
Gooby_Trades  
TVC:VIX   Volatility S&P 500 Index
Trend Analysis Chart Patterns volatilityindex volatilitytrade shortsetup repeatingpattern pennantpattern chartpatterntrading
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trendanalysis chartpattern volatilityindex volatilitytrade shortsetup repeatingpattern pennantpattern chartpatterntrading
VIX trading in a bullish pennant pattern. We have seen two really nice bullish bounces off the support trend line in this pennant pattern. I expect this next support line touch to be nothing different (assuming VIX touches support). VIX targets: 25.41 resistance first, then follow-through to 28.93, eventually reaching the top of the upper bound of the pennant pattern around the 33 area. With that in mind, I am beginning to load up on short positions and closing out some of my higher beta long positions.

This is not trading advice. Good Luck!

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