This is a good example that you can remember and tell newer traders in the future. VIX generally goes against SPX and is used as a hedge. But VIX is ultimately determined by people's expectation of volatility ahead manifested by the SPX option pricing. When newer traders ask you "does VIX go up when the market go down?", you can answer by starting with "Back in Russian-Ukranian war, ...".
SPX making huge bear flag, fewer issues drive price and volatility increases as more issues start to fade. This is a bearish signal, rising vix on rising price > imminent price collapse
tgc01
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Yeah pretty scary to see VIX increase while SP going up as if people are scared when being the dip - check out the latest analysis I did when removing inflation - BE VERY PRUDENT !