VIX9D dropped substantially likely due to the long holiday weekend. Looking at the other VIX-related indicators (VVIX, VIX3M, and VIX6M), they are slowly coming down but still very elevated.
SPX is moving sideways the last 3 sessions and will hit the secondary downtrend line (green line) in a few days, so would be interesting to see if it gets resolved to the upside.
There is still a large gap at around 4,016 (Yellow arrow) that needs to be filled so I will be looking closely at another uptrend that could be forming in the coming weeks.
VIX table and SPX chart for more details.
Combining VIX and SPX data, there is no clear indication of which way the market will go next. The market is still in a downtrend for sure.
What are your thoughts on which way the market will go next week?
Leave a Reply