Weekly Chart from COVID Highs
Zoomed-In Weekly Chart
- Weekly Chart has yet to break out the trend line (green bar) from COVID Highs
- The bottom appears to be getting tight and has consolidated sideways for weeks
- June - September 2023 the chart was basing which rallied 10 points in the end of September
- The base in June - Sept was not as tight as the chart is showing now
- This is even with
SPY
continuing to increase but VIX holding it's range (KEY)
- Weekly chart showing a rounding bottom
Zoomed-In Weekly Chart
- First we would like to see the weekly break the short term white trend line
- To break to the upside into the green downtrend line from COVID Highs we would need VIX weekly to break through and close above $15.75
- High chance if it breaks $15.75 we will hit the top line of the downtrend which the price will depend on when this break will happen
- We could see highs of
VIX
to $17-$18 if breaks $15.75
评论:
Chart broke out and tapped off of green trend line top. Will see what the end of week plays out to see if its a push or simply what it did prior. Or even a fake breakout