I’ve been talking about the expected rally in the VIX for quite some time now and as you can see from the most recent chart (see above), the price has rallied just as I said it would. Now the price action is running in line with the 20-Day Moving Average, which is why my bias is still to the upside.
The price target is set at the resistance high right around the $22 price level. Remember, the VIX is inversely related to the S&P so be sure to protect any long positions. If the VIX goes up, the S&P goes down. Make sure you move your stops up along the way.
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