The VIX is following similar pattern to 2022 and gradually increasing. Using that pattern, I can compare current spx to 2022 and draw a channel to 2022. then we have a way down to go.
I also agree with ContraryTrader's post on spy https://www.tradingview.com/chart/SPY/HbNJk7Ud-Spy/
specially his observation on Wyckoff distribution. I have been following the news and I know that big investors like Warren Buffet and Michael Burry have been selling heavily last year because it was overvalued.
So if they have sold off, would they buy back with 10% correction? They would be looking at at least 30% correction before they start buying back. Now combine that with tariff wars!
I also agree with ContraryTrader's post on spy https://www.tradingview.com/chart/SPY/HbNJk7Ud-Spy/
specially his observation on Wyckoff distribution. I have been following the news and I know that big investors like Warren Buffet and Michael Burry have been selling heavily last year because it was overvalued.
So if they have sold off, would they buy back with 10% correction? They would be looking at at least 30% correction before they start buying back. Now combine that with tariff wars!
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