Stock Market Technical Analysis Blog
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Taking a closer look at the situation on the VIX, I've applied the brown upper and lower primary channel lines showing its upper lines ceiling effect on the VIX. I also applied the ascension channel in red lines showing how it is trying to carry the VIX up to trading above the blue 432 line which causes market havoc when it trades above it. Until the VIX falls out of this red ascension channel the market will be really nervous as that channel is trying to take us where we don't want to go.