VIX Intraday Gaps Update.

The VIX reacted this morning, but at the same time left a couple of huge open gaps that eventually must get closed off. I would like to see them get closed off sooner than later, as this is pretty early in the game to allow these gaps to remain open.  The 9.30 price level is also another double bottom record low going back to 1993.  Since the 1993 bottom we have three big VIX bottoms around the $10 price level, so this makes for a potential strong base.

A 24 year tripple bottom is pretty bullish for the VIX in my books, but that doesn’t mean a major reversal is due today. Longer term I’m bullish on the VIX, but with gaps showing up and VIX bullish run can get delayed.

Hits: 0