$VIX Possible Breakout? $VIX Tightest Base since 2018

TVC:VIX   Volatility S&P 500 Index
Weekly Chart from COVID Highs
  • Weekly Chart has yet to break out the trend line (green bar) from COVID Highs
  • The bottom appears to be getting tight and has consolidated sideways for weeks
  • June - September 2023 the chart was basing which rallied 10 points in the end of September
  • The base in June - Sept was not as tight as the chart is showing now
  • This is even with SPY continuing to increase but VIX holding it's range (KEY)
  • Weekly chart showing a rounding bottom

Zoomed-In Weekly Chart
  • First we would like to see the weekly break the short term white trend line
  • To break to the upside into the green downtrend line from COVID Highs we would need VIX weekly to break through and close above $15.75
  • High chance if it breaks $15.75 we will hit the top line of the downtrend which the price will depend on when this break will happen
  • We could see highs of VIX to $17-$18 if breaks $15.75

Chart broke out and tapped off of green trend line top. Will see what the end of week plays out to see if its a push or simply what it did prior. Or even a fake breakout

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