VIX (VX) Slides to New 2021 Low


CFA, Founder Tradable Patterns

VIX (VX) Slides to New 2021 Low

The VIX (VX) is trying to halt its slide since the August high, sitting near a fresh 2021 low.  Significantly, although the VX is firmly still within a downchannel (on the weekly chart), the VX is poised to rebound with the 4hr chart descending wedge near completion.  A reclaim of the psychologically key 20 whole figure level following Thursday’s US ADP Non-Farm Employment Change data is moderately likely, although any retest of the August high will have to wait until at least following Friday’s highly anticipated US Non-Farm Payrolls (NFP).  Congratulations to premium subscribers who benefited from the March 17, 2020 warning of the pending slide in the VX, one day before its record high on the front month contract and from the Jan 26th alert of the growing probability of a rebound in the VIX.  The weekly RSI is still sloping slightly down, weighed by the downsloping daily MACD.  I am looking to go long in the green zone (of the daily chart), targeting the red zone for Monday.  The amber/yellow zone is where I might place a stop if I was a swing trader (although in my personal account with which I seldom hold overnight I sometimes set my stops tighter)…Click here for analysis on NASDAQ100, ARABICA COFFEE 

Sample of Today’s Top 3 Trades Available to Free Subscribers (published Apr 14, 2021)

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