Earlier this month, Chris Kimble sent me a chart that I posted as a question: Storm Warning for the S&P 500? Here is an updated chart with his latest comments.
Chris elaborates: The chart from August 6th highlighted a rising wedge in the 500 index and a falling wedge in the VIX that were about to end.
Something had to happen, soon!
I created that chart the day before the August 500 high. As the patterns suggested, the 500 index has declined and the VIX has rallied.
As the chart above shows, this storm could still pack a punch. I hope investors have taken shelter until this blows over and breaks overhead resistance.
