Replies to post #36753 on Bagman's charts, watchlists, scans and etc.

[Jimski]

VIX Elliott Wave IMO.
Hi Lang, the sideways movement the last couple of weeks in the VIX looks like it is still in Wave 4 to me. That's the problem with these corrective waves they can get quite complex with corrective pattern connecting to another corrective pattern especially in wave 4. In my reading on Elliott Wave they say to always try to see what might be alternate forecasts that also fit the chart data. The VIX being in wave 4 still is consistent too with the way the stock Indexes look on their charts ( wave 4 going down) and therefore now the most likely one IMO.
This means we have wave 5 still to come that will probably spike the VIX to new highs or at least back to 90. Just my opinion of course