Waiting

There is no catalyst yet for a reversal on the VIX. However, we aren't far away from a long term supply area at the beginning of the year. While I expect more bullish movement, the supply line is where it could get interesting and reverse. We would need to see less demand volume and rejection of highs at this level to consider a change in direction. That said, there is another point of resistance higher, if a pullback does not appear at the marked supply line.