VIX Daily....rainbow chart
Sure, the bears could argue its putting in a base, but the current action is ALL noise. There is no direction right now, its all boring noise.
No bear should take this nonsense seriously until we see a break back into the low 20s..and even then, it could easily be a cruel tease - if market cruises to 1550 by late summer.
*still holding LONG, via IWM calls, seeking IWM 86/87 / sp'1440 within the near term.
**ohh, and UVXY holders must be really getting mad now, even more annoyed than the TVIX holders, more on those two later this evening I think.