The VIX index is a contrary indicator and has occasional spurts that generate triple digit returns in the indicator, meaning 5X or better on VIX calls. In an article published today, Elliott Wave International is highlighting recent VIX strength as signaling a change in market trend is due (Link to article below). Our VIX Trend Model is on a Buy Signal from Jan 16th, but it needs to be confirmed by a VIX breakout above $15.50 before VIX calls become an attractive bet. Higher lows and higher highs may be a prelude to a breakout move above the price channel shown above. Let's keep an eye on VIX for the rest of this week, with FOMC news out this afternoon and still important earnings due out tomorrow from AAPL, META and AMZN. Link to EWI VIX article. QQQ This is a set-up for a new Sell Signal, but coming as it is in front of FOMC statement and earnings from AAPL, META and AMZN, it carries too much news-risk to even be considered "Pending." There are eleven more months to go in 2024, plenty of time to take calculated risks from fresh trading signals. QQQ March Puts - Not recommended in light of news risk, but if things start falling apart quickly:
