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.
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