In this analysis, we delve into the SPX and VIX dynamics for the upcoming week.
The SP500 is struggling to hold above 5300, facing resistance from a fakeout expanded flat correction, coinciding with a significant multi-decade resistance level dating back to the dot-com bubble.
With the top of the expanded flat rising trendline, we anticipate a cap at 5400, signaling a potential correction towards $5000 after breaching $5200.
Meanwhile, the VIX has settled around $12, forming bullish diamond patterns near key resistance levels, hinting at impending volatility.