Using Volume Analysis of VIX Tracking ETFs we have a case for a complex bottom in VIX..
My apologies, this crappy chart is missing the volume for the low on the 9th for VXX (so I drew one in), since VIX itself has no volume measurement we substitute the volume with the volume from the VXX ETF (results similar when using UVXY). We had high volume on the 9th... you can look at your own chart to verify.
VIX has tried to break that low on lighter volume, on STRONGER VOLUME resulting in "Null Tests" (failure to test/break pivot on stronger volume) and even gap-downs... nothing has been able to break/test that 9th low on VIX and these ETFs...
If they can't break em down, they are going to break higher, probably sharply higher...
So this is the case for a complex bottom in VIX
Chart:
Edited by SemiBizz, 22 August 2016 - 10:10 AM.