Update On The Volatility Index VIX

A “down drifter” day, meaning, the VIX (^VIX) didn’t have the energy or desire to start a decent rally. Down -24.68%.

Here’s a 10-day above. We did “break” the bottom support of consolidation, but I’d say it’s still too early to tell. A double-top may be in place.

Here, we can see two bearish engulfing patterns in a 6-day period. That’s extremely bearish. Usually, one BE pattern is enough to signal a reveral, but two? The VIX finds support at the 20-day MA (green line).

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