ETFs use VIX as a resource to automatically hedge their holdings. This requirement for hedging is expanding with the popularity of ETFs. The channel shows the range of price volatility due to ETP creator arbitrages to balance the ETFs' true value. I've outlined some short term predictions for the behavior of volatility. Remember, it's volatile to trade volatile stocks!
Comment:
VIX has breached the bearish pattern. I am now bullish on VIX.