Around 1:30PM on 03/11/25 the 
SPY formed a bullish butterfly harmonic pattern on the 4H chart, leading to a massive rally above its nearest confluent price reversal zone (PRZ). Meanwhile, the 
VIX which has pushed well beyond its latest bearish harmonic pattern, has finally broken below it's nearest confluent PRZ with no more potential bearish patterns left in the upside while also forming a potential bullish pattern to the downside. While SPY has formed several bullish harmonics in the 4H during the selloff in the past two weeks, which have resulted in near term rallies, will this time be different now that the VIX has finally taken out all of its upside targets? Tomorrows economic data can be the catalyst to create continuation to the upside with a near term target of $588.
SPY formed a bullish butterfly harmonic pattern on the 4H chart, leading to a massive rally above its nearest confluent price reversal zone (PRZ). Meanwhile, the VIX which has pushed well beyond its latest bearish harmonic pattern, has finally broken below it's nearest confluent PRZ with no more potential bearish patterns left in the upside while also forming a potential bullish pattern to the downside. While SPY has formed several bullish harmonics in the 4H during the selloff in the past two weeks, which have resulted in near term rallies, will this time be different now that the VIX has finally taken out all of its upside targets? Tomorrows economic data can be the catalyst to create continuation to the upside with a near term target of $588.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.