VIX Analysis August 2015 (D)
Created on Saturday, 01 August 2015 01:51
Written by Austin Galt
I’m starting to sound like a broken record on this but we continue to wait for lift off. July saw an aborted takeoff which really just postpones the inevitable. Let’s take a quick look.
VIX DAILY CHART
Previously, we were following a 5 point broadening low and this has morphed into an even more bullish 7 point broadening low which may or may not be complete.
I have drawn a horizontal line which denotes the double bottom at 11.52. The recent low at 11.73 still leaves some room for price to go lower.
The RSI looks like it may set up a bullish divergence on a new price low. Let’s see.
So, this really should be it. Don’t be expecting a 9 point broadening low. Time is surely just about up and an explosion higher beckons.