With today being a “blackout period” as the market eagerly awaits earnings from NVDA, where just about nothing that happens matters (breakouts & any big moves should be taken with a big grain of salt), as highlighted in recent videos on several occasions over the past month or so, once again, the $VIX (VIX volatility index via /VIX futures or any of the $VIX tracking ETP’s) offers an objective add-on or new long entry on this pullback to the uptrend line, with stops somewhat below, ideally on a daily closing basis after today.
$VIX daily Feb 25th
As always, arrow breaks denote potential price targets/likely reaction points with the solid arrows my current preferred scenario & the dotted arrow showing where the $VIX is likely headed if & when the recent trading ranges in QQQ & SPY are clearly taken out soon. Daily chart above.