Reading the VIX and its RSI

The VIX is now trading at 14. Whilst this is towards the lower end of its 30 history, it has spent plenty of time around this price.

I find the current RSI reading of 37.50 much more interesting, as shown in the lower chart.

37.50 seems to be around where it extends itself while the circles denote 2 occasions where it traded to 33 in May 2003 and 34.8 in July 2009.

Note that the VIX has never been oversold on a weekly basis

Hmmmm…..

June 7, 2023

by Rob Zdravevski

rob@karriasset.com.au