TVIX - what volatility can tell us about this coming top?
If you have been following me you know I am a huge fan of using volatility to confirm tops in S&P index. Because volatility normally has inverted charts and wave counts to those of S&P and it has cleaner counts you can use volatility to cross check your counts of S&P.
You can watch this video to see how you can do that cross-check and trade SPY and ES-Mini based on TVIX wave counts.
Looking at 2 hour chart of TVIX ( below ) this coming bottom looks more like a bottom of the wave 3 down rather than bottom of wave 5 down. That means that we would need another move down to a lower low in wave 5 down after a pullback in wave 4 up is completed.
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