Tradable Patterns (https://tradablepatterns.com) provides technical analysis on a subset of three CME/ICE/Eurex futures (commodities, equity indices, and interest rates), spot FX and cryptocurrency markets, which it considers worth monitoring for the day/week for trend reversal or continuation. For less experienced traders, tutorials and workshops are offered online and throughout Southeast Asia.
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
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