Click on chart for sharper image.The VIX chart shows a rising wedge formation. Everyone is talking how the market has not bottomed because VIX has not gone to January and March highs. The important point here is if the VIX breaks down from this steep rising wedge, we would head back to 15s.
If that happens, market is heading back to May/June highs with S&P back to 1400s.
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