Checking on Volatility

The iPath S&P Vix Short-Term Futures (NYSEArca: VIX) snapped a three-session losing streak despite testing an opening low of 17.35. Near-term and upper support at 17.25-16.75 was challenged for the second-straight session. A close below the latter would indicate additional weakness towards 16-15.50.

The bounce to 18.40 afterwards cleared but failed to hold lower resistance at 18-18.50. A move above the latter would suggest a retest towards 19.50-20.