VIX Touched Lower BB 7/20/2020
The VIX touched the lower daily BB. Usually, it touches it 2-4 times before getting another volatility run.
VIX is at a critical point where volatility either makes a run for it or vanishes for months. The P/C ratio seemed to be normalizing which may have lowered the VIX.
What's giving me a clue that it make a run for it is the VVIX. It's still hasn't settled down. The VIX and VVIX have done this back in early June. It tricked everyone.
People thought the coast was clear when the VIX reached below 24. What they didn't check was the VVIX and the P/C Ratio.
I mentioned yesterday that this set up seems like a pop and drop. Well, we saw the pop in the ES. I don't think it's over yet. Until I see the VVIX settle below 105 for multiple days, I don't think the VIX is done.
VIX is at a critical point where volatility either makes a run for it or vanishes for months. The P/C ratio seemed to be normalizing which may have lowered the VIX.
What's giving me a clue that it make a run for it is the VVIX. It's still hasn't settled down. The VIX and VVIX have done this back in early June. It tricked everyone.
People thought the coast was clear when the VIX reached below 24. What they didn't check was the VVIX and the P/C Ratio.
I mentioned yesterday that this set up seems like a pop and drop. Well, we saw the pop in the ES. I don't think it's over yet. Until I see the VVIX settle below 105 for multiple days, I don't think the VIX is done.
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