I find it somewhat ironic the vix is sitting in the mid 30′s yet has been anything but volatile as it trades within the wedge pattern. A break either way should occur in the coming days, Tuesday at the latest.
I continue to believe it will break higher based on (1) the bullish momentum in the chart and (2) the skew VS vix divergence.
Vix Six Month Daily
Notice the wedge pattern that is just about closed and the position of the MA’s. Additionally the 100MA has held on numerous tests.
(click to enlarge)