VIX is continuing to trade in an ever-so-slightly narrowing triangle-like pattern. While we are having violent trading sessions that sees the VIX pop in excess of 10% on a regular basis, the band on the daily chart in which it is trading in continues to get smaller.
That doesn’t mean that we’ll see less volatile days ahead, far from, that is a completely different matter, in fact. What I am trying to say here is that once the support or the resistance is broken, it should provide a clearer direction for this market going forward.
Until then, enjoy this supreme market uncertainty.
