Chart of the Day – June 29, 2020

By: Chris Wenner in Charts 06/29/2020

I’ve written about technicals on the VIX Index – and how I believe they aren’t as “clear cut” as major indices, single equities, other asset classes, etc – but they might also be underrated.  Below is the VIX Index on a 12-month, Ichimoku (Cloud) chart.  For the last couple of weeks, spot price of the VIX has been bumping up against the lead level of its cloud, which has acted like a lid/resistance.

What’s interesting is that the VIX has also been building – what looks to be – a mini-round base over this same time period.  I’d watch this 34-35 level.  Anything much higher than that could lead to a 40+ VIX.

CW

 

By: Chris Wenner

Managing Director

Jonathan Molchan

Wennco's innovative strategies and robust OCIO capabilities are designed for RIAs, Family Offices, and high-net-worth individuals.

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