Friday, May 15, 2009 3:48:45 PM
The VIX 10,2 BBands are only about one and quarter days wide now {on average}
With the top 10,2 BBand falling very steep...
Monday the 10,2 BBands will only be about a day wide.
The wedge is getting tighter... when it breaks... is the question. Watch for possible head fake/s.
Bottom line VIX support is the (red) Horizontal line +/-28.50 =
the same July 08 high minus the top tail of the candle. (candle body top)
It would be rare to see this wedge resolve down but it could happen.
I would expect it to be resolved with an eventual top line breakout...
...finding the true bottom of the wedge... could be another question.
With the top 10,2 BBand falling very steep...
Monday the 10,2 BBands will only be about a day wide.
The wedge is getting tighter... when it breaks... is the question. Watch for possible head fake/s.
Bottom line VIX support is the (red) Horizontal line +/-28.50 =
the same July 08 high minus the top tail of the candle. (candle body top)
It would be rare to see this wedge resolve down but it could happen.
I would expect it to be resolved with an eventual top line breakout...
...finding the true bottom of the wedge... could be another question.
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