VX Coiling Before CPI
VX looks primed for a move up to 16.60 after a descending channel breakout and retest. Makes me wonder if CPI is about to come in hot or have a negative reaction. We'll find out soon enough. 16.60 will be key for VX to get above and stay above for bears to have a day.
I'll have bearish bias until VX falls back below 16. Ideally we'd get a long opportunity on SPY when VX hits 16.60. Will look for SPY puts instead if VX sustains above 16.60.
I'll have bearish bias until VX falls back below 16. Ideally we'd get a long opportunity on SPY when VX hits 16.60. Will look for SPY puts instead if VX sustains above 16.60.
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