Top 5 Weekly Trade Ideas #4 - VX BreakoutLooks like the market is preparing for some volatility heading into FOMC, which is not something not we've been seeing as of late. We could be due for a sharp correction if this continues, but of course it could also just be some hedging and might not amount to anything.
Pretty good looking chart, nice bounce off the low at 15.80, but for now it is still in the range from 15.80 - 16.80. Given the inverse H&S + channel break and bounce at 15.80 I'd expect more upside in the short term, but it has to clear 16.80 first. If it does and keeps going, look out below on ES.