Let me clarify as to avoid any confusion, the VIX pulled back to
support last Friday (demand zone) which suggested a low risk entry
for protection (Vix bounce) and SPX pullback which transpired on
Monday and Tuesday. On Tuesday, it bounced up to resistance
shown on the 60 minute chart (supply zone) and today reversed
down.
Nothing in the comments box relates directly upon today's action
as that transpired on Monday
Correct. As I showed in the numbered steps on the chart, the
close outside the BB's occurred on July 29 on the daily $VIX (step
1). Then, the following day, Aug 1, it closed back inside the BB's
creating the signal (step 2 as described on your chart). Today, SO
FAR, it looks like it may close below the close of the Aug 1 candle
(step 3). Those three candles I labelled with numbers appear to
meet the criteria of each of the three steps required for a
confirmed signal. I guess I'm missing something. Hopefully, it will
become clear on future comments about the $VIX.
Everything you said was correct until step 3 - that ONLY relates
to a close above the upper BB and reversal down. You can
phone me after hours to get all questions resolved. Send me a
private email and I will respond with my phone number. Just
click on the envelope under any of my posts to send me a private
email.
You are confusing the information presented in the box - I will
be happy to clarify tonight again. The main focus should be
on price action with respect to the SPX which I outlined the past
few days.
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VIX Summary
Posted by steve on 3rd of Aug 2022 at 12:21 pm
$VIX - Chart Link
$VIX - Chart Link
$VIX - Chart Link
Let me clarify as to avoid any confusion, the VIX pulled back to support last Friday (demand zone) which suggested a low risk entry for protection (Vix bounce) and SPX pullback which transpired on Monday and Tuesday. On Tuesday, it bounced up to resistance shown on the 60 minute chart (supply zone) and today reversed down.
Nothing in the comments box relates directly upon today's action as that transpired on Monday
Correct. As I showed in
Posted by Trendie on 3rd of Aug 2022 at 12:31 pm
Correct. As I showed in the numbered steps on the chart, the close outside the BB's occurred on July 29 on the daily $VIX (step 1). Then, the following day, Aug 1, it closed back inside the BB's creating the signal (step 2 as described on your chart). Today, SO FAR, it looks like it may close below the close of the Aug 1 candle (step 3). Those three candles I labelled with numbers appear to meet the criteria of each of the three steps required for a confirmed signal. I guess I'm missing something. Hopefully, it will become clear on future comments about the $VIX.
Everything you said was correct
Posted by steve on 3rd of Aug 2022 at 12:35 pm
Everything you said was correct until step 3 - that ONLY relates to a close above the upper BB and reversal down. You can phone me after hours to get all questions resolved. Send me a private email and I will respond with my phone number. Just click on the envelope under any of my posts to send me a private email.
You are confusing the information
Posted by steve on 3rd of Aug 2022 at 12:25 pm
You are confusing the information presented in the box - I will be happy to clarify tonight again. The main focus should be on price action with respect to the SPX which I outlined the past few days.