vix dumpsterfire is getting taken to the landfill

Aug 16, 2022

its been a powerful statement from bulls the way vix has been in the dumps on the weekly. if you shorted vix since early june you made out really well. the problem is that a high vix displays a market letting off steam, and the rally has been a faceripper to the upside without consolidating on the weekly. if we have some choppier action on es1!/spy treting the low of yesterday as support above a pivot price it wouldnt be unusual to see this etf 1 or 2 dollars higher, but if we crash below that price treating pivot as resistance i would wager it will thrust toward lower horizontals. all i see is downtrend, and thats why im questioning the logic of vix bears here. i wouldnt try to short this thing much further.