VIX is a very well-behaved market indicator most of the time.  It often retraces to normal Fibonacci levels.  It follows channels like a champ.  And, its RSI channels are hard to beat.

In fact, VIX RSI channels are one of my favorite tools for determining overall market direction. So, it’s disappointing that, at the moment, they’re a little fuzzy.

VIX recently completed a Bat Pattern on the white grid, only to fall back trough the rising purple midline and red midline.  Re RSI, It has support at the bottom of the rising purple channel and the midline of the red channel.  But, it appears to be not quite there yet.

A breakout of any kind would most likely be a Crab Pattern to the white 1.618  (for starters) at the intersection of the falling red channel top — perhaps as early as 10-12 sessions from today.

But, first, VIX will probably have to tag the bottom or .25 of the purple price channel and the bottom of the purple RSI channel.  In other words, the market is likely to rally after whatever sell-off is planned for tomorrow morning.  But, the rally could be short-lived.

GLTA.