Top 5 Weekly Trade Ideas #1 - VX Falling Wedge

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Will be watching this wedge on VX throughout the week for directional bias on SPY. VX is near the top end now trying to break. If it does break up, first target is 16.60 followed by ~17. To the downside, it has critical support around 15.25, we could see another big leg up for SPY if it breaks below and continues falling.

Will be cautious with longs if VX breaks out, but if it continues getting crushed it'll be back to risk on mode after a brief pause late last week. This chart alone should provide a lot of valuable info, especially when you combine it with SPY.