3350 is first big SPX short target
Then looking for second trade from 3900 area retest.
It looked like the actionable break is made in SPX. Well under where the bulls should have held. We’re now targeting 3350 with a possible bounce 3300.
Syncing up with our macro forecasts on the Darlings.
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SPX is currently holding around 3700. This selloff in the past week is a bit weird. As your chart shows, SPX has gone down 12% and looks sketchy as, but VIX has only hit ~33. The selloff seems very structured just from how it "feels" (not that I've been through any crashes in the past) - gradual cumulative declines instead of a sudden panic. What's your TA take on VIX - might give us an alternative view on what's happening?