Is the VIX OK Now? - Update
Last week we asked the question: "Is the VIX okay now?"
Our answer was ... "Actually no, not yet. The VIX needs to close below 12.51 to end its possibility of having an inverted Head & Shoulder pattern."
Hopefully, that was the warning you needed.
What about today and next week?
We should see a softness pullback on the VIX today, but that won't end its potential danger condition. To understand that, we will need to see the action that occurs in the next 2 to 3 days. (Do remember that the VIX moves opposite to the stock market.)