Monday, June 13, 2011

VIX possible upside breakout 6/13

To the left is the VIX hourly chart shown over quite a few weeks of trading, wanted to get the feel of the channel it has formed between 15 and 19+ or so. It looks like most of the times that it has even approached 19 it has come right off that level. Looking at it over the last couple trading sessions it seems like its consolidating near the high of the channels for the first time. I dont know if this is a signal that its ready to break out to the upside or not, but it certainly seems unusual and I wouldn't be trying to short it to go to the other end of the channel this time.

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