VIX (VX) Testing 38.2 Percent Fib Retrace of 2 Wk Rally

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The VIX (VX) consolidated further yesterday and is testing the 38.2% Fib retrace of the rally that peaked last week. Today's US CPI and retail data releases at 830am EST will trigger either a resumption of the VX's rally or power the US equity bounce further, deflating the VX. While far from clear on directional bias for today, most traders will await a clear breakout in either direction. The weekly, daily and 4hr RSI, Stochastics and MACD present a mixed picture, but significantly for bulls looking out over the next few weeks, the weekly MACD continues to steeply slope up. I am long the VX as of yesterday at 26.6 and targeting the red zone for Thursday. The amber/yellow zone is where I might place a stop if I was a swing trader (although in my personal account with which I seldom hold overnight I set my stops tighter) I have moved my stop lower slightly from yesterday.

VIX (VX) Weekly/Daily/4hr

VX (VIX) Technical Analysis

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