Bearish flag showing

I was awake at 3am this morning and witness some pretty heavy sell stops going off one after the other today, and it seems that they were not finished today, and we are most likely to see more of the same either today or possibly later in the week.

Also we have broken out of a bearish flag on the DAILY SPX CHART so the bears are still winning here, and giving alot of weight to the market right now! OUCH!

bearish flag on SPX chart

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vix weekly chart - vix weekly chart

vix weekly chart - vix weekly chart update

The  vix weekly chart  is very interesting right now. This is the inverse to the market. I have been seeing very large Call orders come through for the vix the last few days, which I think is very very interesting.

The vix weekly chart now has 3 black candles in a row. I went back on the chart and I could not see this formation for a year or so. So we are obviously seeing a fundamental shift take place in the market. The VIX and the vix weekly chart  is a good representation of this.

The vix weekly chart needs to break the 15 level, or down below the 12.5 level before we see a bigger shift and market movements take place.

vix weekly chart

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