Despite briefly dipping below 12, based on this chart interpretation the VIX is still poised for a rather large spike this summer. First trigger would be a move over ~14 then a push through major resistance ~19.50 - 20 would probably see a rapid ramp towards the low 30's.
This would roughly correlate to a 20-30% correction in the SPX.
Watch to see if the VIX can break and close above the 50 sma (currently 14.08) and then the 250 sma (currently 19.35) for confirmation.
This would roughly correlate to a 20-30% correction in the SPX.
Watch to see if the VIX can break and close above the 50 sma (currently 14.08) and then the 250 sma (currently 19.35) for confirmation.