$VIX 50+ Target. Do I have your attention? What I’m about to share is not my chart, it’s the Vixen’s chart. And when she posts charts of the $VIX I’ve learned to pay attention as she’s shown time and time again the $VIX can be charted.
Mella is famous for keeping things simple stupid (KISS). When it comes to markets she doesn’t care about the news, the noise, etc, she just charts. Mella was a long time market bull that turned bearish in 2018 and for good reason as all her bullish $VIX patterns have come to fruition.
And now she’s spotted another bullish $VIX pattern. A very bullish $VIX pattern.
In this case she’s seeing a massive potential inverse pattern on the $VIX. Now with all patterns they are potential patterns until they are confirmed, but this is a pretty impressive looking pattern and it’s massively bullish $VIX:
So that big market rally from December into early February? It has built a right shoulder on the VIX. It’s a weekly chart and hence it doesn’t give you a due date, but while this pattern is not confirmed until it breaks above the neckline, it also very much remains a potential active patterns as it has not been invalidated.
What’s this pattern really say? It says that markets are at risk of a major risk off event sometime in 2019.
It doesn’t tell you when, but, if it happens, don’t be surprised that it did. Because it was in the charts. I, for one, will keep a close eye on this chart in 2019.
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Categories: Market Analysis