Monday VIXology

A strong change of character this week as the VIX displayed some razzle dazzle and a net 31% gain. Now riding well above the LR 30 upper channel, the VIX has retraced back to July 9th levels. Looking technically overextended on both the RSI2 and MAs, the VIX can and has played some nasty tricks on pure technical traders before so caution is advised here with my personal bias being to just focus on intraday patterns until we see how the next trend develops.
Conversely, the Qs look ready for a bounce at the current -.43 levels although we could as easily get a repeat of the late September, early October double bottom pattern so, once again, caution is advised before getting too frisky on the long side.
The PDQ dashboard is short the Qs in one position . .the rest of the portfolio is flat.
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Below is an update of the VIX pivot bands.
The emerging scenario suggested by this indicator of pivot volatility is bullish (for the VIX).