Yesterday’s action – or lack of action – has not changed my opinion. Nor has it changed the look of the daily chart of the Volatility Index (VIX)<\/a> we posted yesterday.<\/p>\n So, for today, at the risk of burrowing even deeper into the “higher-volatility” bunker, let’s take a look at the 60-minute chart…<\/p>\n Remember, 60-minute charts are shorter-term than daily charts. Patterns on a 60-minute chart tend to play out within just a few days.<\/p>\n As you can see, in this timeframe, the VIX is tracing out a consolidating triangle pattern. And it’s quickly approaching the apex of the triangle. So we’re likely to get a breakout of this pattern soon.<\/p>\n There’s no way to guarantee which direction the breakout will occur. But based on the conditions of the MACD<\/a> and RSI<\/a> momentum indicators, the odds favor an upside breakout.<\/p>\n This, of course, mimics the bullish setup in the daily VIX chart I showed you yesterday.<\/p>\n So, while Monday’s action in the market was lethargic, it still looks to me like volatility is poised to pop higher.<\/p>\n Best regards and good trading,<\/p>\n Jeff Clark<\/p>\n What’s your strategy for the coming days and weeks? Are you planning for a resurgence of volatility?<\/p>\n![\"\"](\"https:\/\/jc-stable.s3.amazonaws.com\/ee-assets\/channels\/articles\/mm\/201805-mm\/20180522-MM-01.png\")
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