Applying a wave count to the VIX may be a futile effort, but it is a way to communicate any potential move, as long as we understand that diagonal wave structures are the main wave types in anything related to the VIX.
Any VIX move to the upside shows that fears about the stock market is rising. There are also spikes in the VIX that don’t show up when we switch to line type, so we have to ignore that single plunge below $9.
The starting degree level may be too large, but that is not an issue when at this time. It must be reviewed once this all starts to advance in a more obvious move that the mainstream starts to report on. In the short term, I wouldn’t like to see this VIX hit another record low, but would rather see a new record high.
There have been no gaps that opened up, so that is a good thing at this time. Tracking any open gaps that may develop is very important as gaps supply potential turning points. We do have a gap at about the $23 price level, so longer term this could provide some resistance.
Waking up the VIX bulls is the same thing as waking up the stock market bears, so if you choose to ignore the warnings, the stock bulls may find themselves sliced, diced and cooking on the barbecue this summer.
When I read the link above it tells me that this age bracket has learned nothing from history, and when we ignore history we are certainly doomed to repeat it. Don’t worry as all generations have made that same mistake over and over, and no amount of screaming doom and gloom scenarios will change that. Getting into a market before solar cycle #25 has started is a recipe for disaster.