The VIX was sporting that classic head and shoulder pattern.  Let's face it, head and shoulder patterns on the $SPY haven't worked out so well over the last 8 years,  but the VIX?    Any bearish formation usually resolves as planned for the VIX.  As such yesterdays recovery... would it follow through today?  I posted this chart in the chat room:

and this morning the VIX is continuing its plunge, down over 9%.

Also note that last month the VIX was elevated into OPEX, and the following Monday dropped 25%  Today is OPEX.


Known to most as Uranium Pinto Beans, Jason has more than 15 years under his belt of trading stocks, options and currencies. His expertise primarily lies in chart analysis, and he has a strong eye for undervalued stock. Because he’s got the ability to identify great risk/reward trades he usually enjoys taking the path less traveled and reaping the benefits from the adventure.

He is a co-founder of Option Millionaires, and he is best known for his weekly webinars with Scott, as well as his high level training webinars and charts found in the forums.

More Posts by UPB: View All | Private Twitter Feed: Access Now! (For Diamond Members)

Leave a Reply