Technicals on volatility indexes, such as the VIX, are rarely drivers of their future price directions. Sometimes it appears they are a factor (even if a small one). The VVIX Index, which measures volatility of volatility (represents the expected vol of the 30-day forward price of the VIX Index, is bumping up against the downtrend made during the peak of the selloff in March. This level is around 120-121, which is where we are this morning. Watch the VIX & VVIX today/tomorrow!
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|Chart of The Day – June 8, 2020|