Day 5 since Trading View erased my work in over 60 charts. Be sure to save a backup of your work.
VIX at the daily view. It looks like my lucky guess was right yesterday. The VIX is in washout mode and hunting both sides. This time, the VIX punished permabears who chased the VIX jump. Why did they chase it? It's the mentality of trying to get rich quick. The VIX has a tendency to punish that excessive greed.
The VIX is now in no man's land. It is ramping up... for now. The ramp up is cancelled if the VIX reaches 20 again. I would not be surprised if the VIX pulled back further just before the FOMC press conference tomorrow. As stated, this is a rather emotional phase of the VIX. It will likely whipsaw for the rest of the week. Furthermore, next week is a Holiday week. Low volume holiday weeks on the ES tends to be purgatory for the VIX.
From the looks of it, I would be surprised if the VIX reaches over 30 for the rest of December. My plan remains the same. If it has a breakout pattern, I'll long there. If it spikes and breaks key resistances, I'll wait to short the spike when traders panic buy.
VIX at the daily view. It looks like my lucky guess was right yesterday. The VIX is in washout mode and hunting both sides. This time, the VIX punished permabears who chased the VIX jump. Why did they chase it? It's the mentality of trying to get rich quick. The VIX has a tendency to punish that excessive greed.
The VIX is now in no man's land. It is ramping up... for now. The ramp up is cancelled if the VIX reaches 20 again. I would not be surprised if the VIX pulled back further just before the FOMC press conference tomorrow. As stated, this is a rather emotional phase of the VIX. It will likely whipsaw for the rest of the week. Furthermore, next week is a Holiday week. Low volume holiday weeks on the ES tends to be purgatory for the VIX.
From the looks of it, I would be surprised if the VIX reaches over 30 for the rest of December. My plan remains the same. If it has a breakout pattern, I'll long there. If it spikes and breaks key resistances, I'll wait to short the spike when traders panic buy.