Nice pop in the pre-market but declining all morning long. Weekly Chart has it coming back down to support.
VIX not quite what we saw in 2020, and still not as high as the flash reading at last August. But it's closing readings are much worse than last August and still less than '20.
If this holds into the close, this would be momentous.
Resistance on VIX is no joke! Going back to 2020, continues to get crushed at this level.
Resistance on Amazon (AMZN) worth watching Previous two attempts to push through have failed. Teekay (TK) short-term bullish action with a bounce off of the rising trend-line and push through declining resistance Volatility Index (VIX) sitting at a major support level, where recent reversals in equities have taken place. Â
Chevron (CVX)Analysis 1) Short-term support broken, setting up for a retest of long-term trend-line. 2) Declining trend-line above creating lower-highs. 3) Short-term trend-line also broken. First Solar (FSLR) declining channel remains perfectly intact and seeing a hard rejection off the upper channel band today. Apple (AAPL) starting the week by pressing up against declining resistance.
CBOE Market Volatility Index (VIX) breaking rising trend-line. Bears in full control of another volatility crush. Declining resistance on Boeing (BA) broken today. Declining channel in Advanced Micro Devices (AMD). Room to run, but watch for a potential reversal around the 106-107 area. Roku (ROKU) with a bullish wedge. Watch for the potential
Despite a double beat, $SOFI was unable to push through declining resistance. $VIX giving up a lot of its gains from the past three days. A break back below support could signal a dead-cat bounce for equities underway. Two developments in $RIVN today: 1) Broke its rising trend-line off of the April lows 2) Testing
$SOFI Possible bullish wedge trying to form, but with price testing support, could be setting up for the next leg lower, which has very little support until sub-$5 Big move here out of $VIX today. May be setting up for another move up to 30. Holding support and bouncing this well, is a bad look
$VIX Bears 11 times in a row continue to reject any movement above this threshold. Tight consolidation and continues to get rejected on the breakout attempts. Heavy resistance at the 200-day moving average as well. Strong potential for a downside break. $TNX Another jump in the 10-year yield sets up for another test of resistance