The VIX chart depicts a significant recent spike in volatility, breaching through multiple resistance lines.
This surge can be described as approaching the “Gates of Hell,” indicating heightened fear and uncertainty in the market. The breakout from the descending channel suggests that the market is entering a phase of extreme turbulence.
Traders should be prepared for increased volatility and potential sharp market declines, as the VIX has moved well above its previous levels, signaling a potential crisis or major market correction.
The increased VIX values often correlate with substantial selling pressure and panic in the markets, underscoring the precariousness of the current situation.
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