Where is the VIX going?

by formerbuck

Retraced back to mid 50’s, gathering momentum needed to break ATHs.

Thoughts:

Leading up to this past week, it appeared the VIX was in a corrective wave 4 down to the low 50s (which was hit on 3/24) and it appears it will make its final wave 5 over a period of time. Nobody fucking knows how fast or slow this happens, and that remains to be seen. However, from the voraciousness of buying and selling in the market, combined with how many of your wives have boyfriends, it should happen sooner than later.

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VIX likely fucking bottomed near-term on 3/24 and I suspect this corrective wait should find major support around the 50 level. I am looking for the VIX to butcher its way to new ATHs, just like Carole Baskin butchered her husband and fed him to tigers. Not necessarily in a straight line, but the next leg down in equities is likely next week as cases in the US start to ramp up and ravage the domestic economy. Get fucking horny bears, it’s cumming.

Based on additional bull/bear profiles and sentiment, this is UN-LIKELY to be the bottom in the markets and I recommend people only scalp and swing-trade. If you do enter longs (retards), be prepared to lose an additional 10-15%. It is likely the SPX finds overall support (i.e. support where rallies aren’t sold to new lows) somewhere around 1800 in my opinion. Yes, my fucking opinion.

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breakout to $85+ = signal

Trade Ideas:

All I will say is not calls. Figure out the rest from this.

 

Disclaimer: This information is only for educational purposes. Do not make any investment decisions based on the information in this article. Do you own due diligence.

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