VIX9D dropped considerably probably because of the lengthy vacation weekend. Wanting on the different VIX-related indicators (VVIX, VIX3M, and VIX6M), they’re slowly coming down however nonetheless very elevated.
SPX is transferring sideways the final 3 classes and can hit the secondary downtrend line (inexperienced line) in a couple of days, so could be fascinating to see if it will get resolved to the upside.
There may be nonetheless a big hole at round 4,016 (Yellow arrow) that must be stuffed so I will likely be wanting carefully at one other uptrend that might be forming within the coming weeks.
VIX desk and SPX chart for extra particulars.
Combining VIX and SPX information, there is no such thing as a clear indication of which method the market will go subsequent. The market continues to be in a downtrend for certain.
What are your ideas on which method the market will go subsequent week?
