So… $VIX is coming alive.

I think it can at least make it to $39-40:

• previously strong support, now resistance
• 50% retracement since the start of the rally back in March
• 110 EMA — it’s not as an arbitrary number as it seems, too lazy to pull up evidence at the moment

$VIX is “playable” via futures, options or (VXX: 27.872 +8.58%).

Last time $VIX was at $40, $SPX was around 850.