VIX - Rectangle Pattern Update - Heading Higher!

VIX found support with the rectangle pattern as anticipated.

The lower boundary proved to be strong support and VIX has surged up.  VIX is likely heading up to test the upper boundary of the pattern in February.

Daily Chart

Before:

October 24th analysis:

"The VIX has formed a rectangular pattern, and is approaching the main trendline and rectangle support.

VIX is bound within the rectangle in the short term.  Once the pattern matures the moves will become extremely violent."

Daily Chart

TVIX - Levels of Support and Resistance

Upside looks minimal, but possibly TVIX could rise to test horizontal resistance as shown.

The gap has practically been filled with support underneath.

60min Chart

SVXY - February 4th - State of the Union Address

As expected Davos marked the turn, and SVXY dropped to test support today.

Because it is an election year, generally, the most important turn dates will be marked by political events.

The next such event is coming on February 4th.

60min Chart

$SPX - Davos Switzerland - Jan 21st to 24th

The SPX rally which began in October has nearly exhausted.  The most important event this month is the World Economic Forum in Davos, Switzerland which takes place next week.

Support is building at 3,000.

Daily