The VIX has formed a cup with a handle over the last 5 days retracing back to the 61.8% Fibonacci line. Failure will result in the VIX testing the recent lows.
The major indices have bounced and made a higher low but are still beneath the 200 EMA. It is interesting how this almost exactly correlates to a fib line on the $INDU.
The SPY battled back to the 200 EMA but sold off at the end of the day...
And the real battleground in the QQQQ was sold off hard on the close.
Oh to be a trader......
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