VIX: Pop or More Drop?

There was a time when VIX tagging 9.30 was momentous. VIX’s all-time low of 9.31 was reached on Dec 22, 1993 and it subsequently soared as high as 89.53 (Oct 2008.) This past December, however, marked a progression of lower and lower marks that culminated in a new all-time low of 8.84 in July.

Want to know whether stocks have topped out? First, you’d have to ascertain when VIX will stop melting down. We’ve seen 17 straight sessions below the bottom of our long-term yellow channel. The only signs of life were the backtest of a rising channel that broke down in order to get SPX up over 2500.With important resistance coming up today for SPX/ES, might VIX be ready for another (easily-contained) pop?