VIX formed a massive bull wedge from Dec 24->Jan 19 highs, but the breakout has not been sustained, and it has struggled to maintain DTL support. It's also forming a bear wedge that could result in a massive breakdown. Target 16-17.
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In the 30 min since I've posted this idea, VIX once again broke DTL support, and is now breaking through the wedge.
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Continued to break through DTL and even 19.75'ish demand levels after hours.
Trade closed: target reached
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Reached target of 17'ish with plenty of room to fall still. Successful idea.