VIX Volatility 5-Minute Chart Oversold Falling Wedge Positive Divergence

Here's the VIX falling wedge pattern mentioned. Price went all the way down to the apex. The oversold conditions and positive divergence creates the launch from the falling wedge. The VIX should drift higher making for an interesting end to the day. Bears got nothing unless they push VIX above 14.19. Bulls rule the markets below 14.19. The red lines show the negative divergence that created the spank down today and the VIX was a walking dead man in this time frame as of late day yesterday. This information is for educational and entertainment purposes only.  Do not invest based on anything you read or view here.  Consult your financial advisor before making any investment decision.

Note Added 7/18/13 at 9:25 AM:  VIX closes at 13.78 and begins Thursday on the bull side of 14.19.

Note Added 7/18/13 at 10:23 AM:  VIX bounces from 13.80 to 13.95 from the falling wedge but falls on its sword tumbling down to 13.27 which sends the SPX higher to print new all-time highs. VIX will have to develop a new basing pattern.