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AI Stocks 2020-2035 15 Year Trend Forecast

VIX Ready to Rocket, Stock Market Ready to Crash

Stock-Markets / Financial Crash May 08, 2012 - 03:28 PM GMT

By: Anthony_Cherniawski

Stock-Markets

Best Financial Markets Analysis ArticleHere’s another piece of evidence that the VIX may be going considerably higher. It nudged against an inverted Head & Shoulders neckline that targets 28.46 as a minimum advance and is pulling back for the breakout. Should this neckline be broken, as I believe it will, this becomes an argument for a much steeper decline in SPY/SPX in a third wave. The bounce that I had modeled for SPY is getting modified below..


SPY is reaching for point 7 of the smaller Broadening Top formation, giving double confirmation to a potential Crash event coming next. You can see the two-degree point 8 targets at the bottom right of the chart.

I had been used to seeing point 6 coming in below the trendline and often 3-5% below point 4. I held out for a while thinking that point 6 should be lower, but when the retracement started to move higher, I went back to the text and all it requires is that point 6 be lower than point 4. In this case, point 6 isn’t even 1% lower than point 4 due to intervention, but the pattern remains a valid one for a pending crash starting in the overnight markets.

Good luck and good trading!

Regards,

Tony

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Disclaimer: The content in this article is written for educational and informational purposes only.  There is no offer or recommendation to buy or sell any security and no information contained here should be interpreted or construed as investment advice. Do you own due diligence as the information in this article is the opinion of Anthony M. Cherniawski and subject to change without notice.

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