VIX (VX) Tries Firming Just Below Key 25 Level

The VIX (VX) has seen strong profittaking from Wednesday’s fresh 2023 peak, but should be finding support soon as it drifts back towards this week’s low, just above where the VX had broke above the weekly chart descending wedge resistance. Any weekly close above the psychologically key 25 whole figure level would dramatically increase odds for a retest of this week’s high in the few days after…

S&P500 (ES) Weekly Doji @ 50% Fib Retrace of Oct-Feb Bounce

The S&P500 (ES) is trying to form a weekly Doji after rebounding off near the 2023 low and the 61.8% Fib retrace of the October to February bounce. Although odds are now moderate for this week’s short covering to spring ES back to the psychologically key 4k whole figure level, ES is less likely to retest the weekly chart downchannel resistance before month end than it is to slide below the November low in the same period…