Volatility Index Update - Wednesday, Nov. 30
Yesterday, the VIX closed at 12.90 while struggling but improving... there is a concern and that relates to the recent resistance line breaches for later.
Take a look at yesterday's closing VIX chart posted below. Two things are noticeable ...
1. That the VIX is currently moving down to its support line seen in red. (Remember that the VIX moves opposite to the market.)
2. That the VIX recently had two upside breaches (see the black dashed line). The concern is that breaches can be revisited in order to have them completed.