Volatility is Rising

A break and hold below channel support on the SPX:VIX ratio pair would indicate further weakness to come in the S&P 500 Index, as shown on the Daily chart below (as observed in intraday action on Thursday).

The RUT:RVX ratio pair is approaching channel support, as shown on the Daily chart below. A break and hold below would also signal further weakness ahead for the Russell 2000 Index.

 

Major price support is at the bottom of the rising channel, as shown on the Daily chart below of the Major E-mini Futures Indices.