Rare Batman Pattern Forming in VIX

Just as it seemed as if the end of the world was nearing, I am pleased to report a rare Batman pattern forming in the VIX (and in the implied volatility of the SPX and SPY).

The chart below shows the right wing formed two weeks ago, just as panic was first setting in; the head was completed last week, when the situation looked most bleak; and now the left wing is taking shape as the forces of good seek to gain the upper hand over the forces of evil.

Once the Batman pattern is completed, perhaps as soon as tomorrow, I can only conclude that Gotham City will likely be spared the full force of the financial Armageddon that appears to be bearing down on us.

Godspeed, Batman. Every minute counts…

[source: International Securities Exchange]