The RVX closed at another all time high of 75.74 today and we had to bring out the Fibs in order to give us a projection of the next level up. The 423.6% fib at 84 seems to be the next target, but at this point I won't rule out a RVX 90 either. We are at unprecedented levels and the technicals with the all time high close today are not showing any signs of retreating yet.
The relief bounce Monday so far was just that, a temporary bounce before a retest of the lows and possibly another leg lower.
Now that this crisis is global it's adding some additional fuel to the fear fire.
Lets see how long it takes for the RVX to break below 60...
RVX Daily Chart:
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