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Editor of Market Twists & Turns — delivering unmatched stock, crypto, commodities, and forex analysis using a unique blend of Cycles, Cycle Price Projections, Elliott Wave Theory, plus technical & sentiment tools. With 30 years in financial markets, I help you anticipate turns, ride waves, and stay ahead of the crowd. Subscribe for real-time analysis and insights. Not a financial advisor.
Correlation Between VIX and SPX
· The correlation between VIX and SPX usually stays in the [-0.95, -0.7] range.
· When short-term correlation spikes above -0.5, heading toward 0 or even positive values, it often precedes VIX spikes.
· Currently, correlation is at -0.61 and rising. It's worth keeping an eye on.
SOX EW Analysis
· SOX wave structure looks like a double zigzag and a potential triple zigzag, which is a corrective pattern.
· SOX has multiple partially or fully open gaps.
· The open upside gaps and seemingly corrective downside structure raise the question of whether SOX has topped.
· In any case. I am looking down into the second week of September; then we will see if the rebound exhibits an impulsive or corrective wave structure.