Saturday, December 26, 2009

Possible pattern for VIX

As we may see, 19 level has been important support-resistance in the past.



Now we are looking for a possible definition of the cone expansion pattern (megaphone) we are showing here. Check the chart for a similar pattern before October 2008 breakout. In that case it was a contraction cone but the twin apparence, plus the coinciding level (19 area) make me think of a possible bounce off of it.


Let's keep an eye on it for a definition.