Taken by itself the VIX looks like it could go to 15, but the VXN looks like it "needs" to break out soon. The only really logical way I can think of to reconcile the two is for VIX to bounce of that blue rising SR line. Otherwise it seems as though one of two things would happen. Either that huge VXN wedge would fail or the two would get badly out of synch.
It looks like tomorrow we will again be in opposite directions.
The reason I went long was that I do not think we will trend two days lower below the 20 d MA on the NDX.If we do I will be running to the sidelines because it will meet my definition of a major trend change down.It is not just another trading day tomorrow but a very important one.If we don't go up then I will have to rethink my "through the 200 d moving average and not look back for 2 years"scenerio and my "Reverse Head and Shoulders" theory. I will be taking off my horns and reaching for my bear suit.
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