$VIX going to continue to go higher?

$VIX going to continue to go higher?  If the $VIX goes higher, the markets will go lower.

Below is a 4h chart of the $VIX provided by eSignal.  Yesterday at 1:30pm EST we received a 4 time frame Ichimoku Multiple time Buy email alert .   June 14, the VIX reached a high of 22.16 and then started to pull back.  The major pull back was 17.44 with a minor support at 19.25.    The minor support held and today, we are retested the pivot high and broke it.    This is indicating the $VIX is very strong bullish.

2016-06-16_vix

In markets, there are always games being played around key support/resistance levels.  We want to see now what happens at this 22.35 resistance level by end of today and tomorrow.   Also, we want to see price break and close above 23.09 for an additional confirmation.     .

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About the Author Manesh Patel