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Reviewing VIX from August 9, 2019

SPY was down 0.69% to $291.60 on Friday, and VIX was up 6.27% to 18.

VIX bounced off the 17 support level that I outlined in this post here. Here’s what I said Thursday even, after market close:

VIX hit the support level around 17 that I had set out in my post yesterday as a level to watch for. I think this line will continue to act as support and VIX will bounce going into close tomorrow.

The VIX level of 17 was actually laid out by me on Thursday, which can be evidenced with my TradingView chart I posted that day.

(I’m not saying this to brag. I believe it’s important for me to document every prediction and recognize why I was right or wrong. It’s the only way I’m going to develop a better intuition about market behavior.)

As you can see above, VIX did bounce above the 17 support level I laid out after dipping just below it on Thursday. VIX bounced off the support level going into the closing minutes of Friday, setting up a situation where VIX could spike again this coming Monday.

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Author: Trader Court

CPA first, pivoted to python programmer focused on data science which I apply to my own stock and options trading.

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