Sunday July 16, 2017.12:05.am.est.
Well, It FINALLY Happened!
The 4th time was definitely the charm on Friday! The Volatility Index ($VIX) Finally busted its 3 previous triple bottoms of resistance sub 10
as the charts below so perfectly illustrate!
Now, as both the 9 month daily technical chart and Point & Figure charts below show ..Next Stop for the ($VIX) is 8.50 and that means for the S&P 500 ($SPX) its 2,502!!! (a target we have had now for over 6 months as it will be only the 2nd time in the indexes 70 year plus history that it will have traded at 3 deviations over the 200 DMA!) Over 60% of the indexes daily trading volume is machine driven so you can bet as we have for months now that 2502 will happen before “the front month” options expire on August 18, 2017!!!
Once, there on both levels VIX 8.50 & SPX 2,502 INTREDAY we will continue to look for an epic reversal mid day reversal as the end of the current now over 102 month bull market with ZERO 20% Corrections from 666 to 2460 and most likely 2502 takes place!
More to come….