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Index

S&P500In the so-called smooth market, functioning the S&P500 has had 14 gaps in the last 16 trading days. A correction seems quite near. The rise of crypto is also an expression of the societal collapse of trust in the monetary control of central banks and their credibility with the public. Overstretched MACD , how long can this hold? The broader market is barely moving intra-day and the occasional dips are ferociously saved and bought followed by hours of tight range chop action. With most market gains entirely driven by overnight gap ups.
TVC:SPX
by Chrisler
VIXVIX has been forming quite a lot of gaps lately. This chart suggests remaining risk lower into filling the open gaps still, but the pattern is tightening and looks to come to a resolution at any moment between now and in the next week. This smaller pattern suggests room for a VIX breakout into the low to high. The longer-term structures continue building for a much larger move still to come in the future. It’s all part and parcel of a market that continues to live off. The main message: New highs or not, volatility , it’s coming. At least for a while.
CBOE:VIX
by Chrisler