S&P 500 could hit a death spiral down to 2,100 if a recession comes: Sven Henrich (via TradingNation)
, also known as the VIX or the "fear gauge" — the current layout feels like the calm before the storm, the strategist said.
While that sounds somewhat bullish for stocks, the real bullish trend is in the chart of the VIX, which could be setting up for another spike to the 28 or 30 level, Henrich said. And, if the Fed's ability to ward off a potential slowdown fails, stocks could be in for a sustained drop, Henrich warned, pointing to an"This is not necessarily a bearish chart, but it can be an extremely bearish chart," Henrich said, emphasizing that if the S&P is unable to break through the upper trend line of this "megaphone" pattern, the downside risks will rise "significantly.
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