On a longer-term daily SPY evenly spaced channel barchart, here's what the price action looked like at IT lows...the resistance still remains directly overhead:
Here's the same chart using a line chart....does that look like a potential ascending wedge? If a major low is in the rear-view, we saw no closing lows below the rising channel line once the uptrend established itself each of the last 3 IT lows (where do you place your stops if you're a bull?)
Finally, anyone trade VIX options? Looking at the Mar option chain and recent action around VIX 25, seems to me that da boyz have an interest keeping it south of 25....look at all that open interest above 25. But if we're on the verge of a major trending move, why the heck is there no interest in the 20 put strike...a dime/contract???
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