
Ummm. WHAT Volatility?

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The increase in the VIX value took weeks, but in the past three trading sessiosn, most of that lift is alrady gone. The interesting thing about this from a chart perspective is that the price bars are behaving like a normal financial instrument, and “support” for the $VIX should be found right about where we are just above the green tint.

It was only a few weeks ago that the asset markets were at the highest levels in the history of the universe. We have recently seen a tiny bit of slippage in the form of a few percent here and a few percent there, but that little paper cut is enough to make this the top story over on /wallstreetbets:

It may seem odd, but it’s only just occurring to me just how badly the market got wiped out, particularly on Friday I had sort of been taking it stride, but the abundance of “I turned $500 into $17,000” posts in /wsb made it dawn on me that, yeah, trillions of dollars of market cap have been destroyed in just days. I wonder, however, if this is just the umpteenth “lower high” in the VIX, and we’ll be subject to yet another multi-month “recovery” which is oh-so-boring compared to the blast we’ve been enjoying lately.
