For this VIX spike TODAY, I gave SVXY PT of 82.37. We tagged 82.38. LOL Then bounced a wee bit. So THAT is the level to trade against with 82.33 the more important WKLY level for swings. But in a nutshell, breadth breakdown under the surface combined with net selling of size SINCE AUGUST 1ST has not slowed. So until I see stabilization and buying, VIX will continue higher in time: Price Targets remain: 20.44, 21.33, 22.87, etc above 18.70 wkly close.
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VIX Spike
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For this VIX spike TODAY, I gave SVXY PT of 82.37. We tagged 82.38. LOL Then bounced a wee bit. So THAT is the level to trade against with 82.33 the more important WKLY level for swings. But in a nutshell, breadth breakdown under the surface combined with net selling of size SINCE AUGUST 1ST has not slowed. So until I see stabilization and buying, VIX will continue higher in time: Price Targets remain: 20.44, 21.33, 22.87, etc above 18.70 wkly close.