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S&P500: Vix spike retraced after testing Key Hidden Level

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We had a significant rally after Vix spiked 54.47% in 3 days, and the S&P500 index landed right on a Key Hidden Level of support, caused by the smart money buying spree after older Vix fear spikes. Each time the smart money buys the selloffs, they retrace Vix spikes by 75%, and at that point we get these levels, which if they hold, show a bullish bias is a smart thing. In this case, we rallied from it and are now testing a low volume resistance, and showing signs of exhaustion in the intraday rally, on a time at mode basis.
There's a key resistance above, caused by the Brexit activity, which I expect to see tested soon. For now, I'm monitoring this progress, and holding some equity longs, but also adding to my longer term shorts in DB, FB and IBB.
I'll update this chart with more details as they come.

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Ivan Labrie

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Following the script.

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Right at the Brexit day range expansion day mid point now: s3.amazonaws.com/tradingview/snapshots/d/dD8WAz90.png
Key decision level. Let's see how it goes.

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This should be the top zone for this rally.