We are currently testing the SP500 trendline (red) but on the shorter timeframe it has also developed a triangle pattern (blue).
Looks like its setting up for a big move, with the VIX at its lowest levels since January 2021 there is a lot of complacency which could lead to a quick reversal and continuation of the downtrend although will focus on the triangle for a short term setup
Looks like its setting up for a big move, with the VIX at its lowest levels since January 2021 there is a lot of complacency which could lead to a quick reversal and continuation of the downtrend although will focus on the triangle for a short term setup
