Zeev's Turnips Patch-No Politics (ZEEV)

[ajtj99]

VIX can still drop while the market is dropping. This daily chart shows that was the case in December:

http://stockcharts.com/def/servlet/SC.web?c=$vix,uu[h,a]daclynay[pc13!c20!d20,2!f][ilh5,5!li10,10!lp...

The VIX made a double bottom today and reversed back up. It also tested the upper channel line today on the daily chart.
Indicators are mixed, with stochs pointing the VIX higher and RSI and MACD pointing lower. RSI-14 also appears to be following the down channel.

I really can't make much use of the VIX in its current position. All it may be saying is that whatever low we get on this current drop over the next week and a half is not a low that will stick.