Vix Gap Up From 8/16/21 May Need Filling

EOD: The close printed a small divergence between $vix [+ 0.41%] and vxx [- 0.37%] so nothing definitive to report except the door remains open.

2:44pm EST: After reviewing- the short-term gap up in VIX does not need to be of concern at this degree A longer term gap has already closed opening the door to a minor decline in the market. So far all vectors look to be aligning in support of a turn signal up in volatility on the daily chart which, together with the weekly turn up that just printed, will likely produce a reaction. A turn signal watch is now effective. Depending on how today closes, that could elevate to a warning. A warning is not required however, it is just a possibility and often takes the form of an exhaustion vector down in VXX. Current conditions are indeed lining up an exhaustion vector down in VXX but it will need to print at the close to confirm.

Original post-
Waiting to see if VIX gap up will fill from 8/16/21. The daily turn signal that printed at the close on 8/17/21 [unpublished] did not have the VIX gap filled which meant surrounding criteria supporting the turn signal was lacking [which was why a post wasn't issued] - the turn up signal in volatility only produced a minor short-term decline. Since there is the expectation for another daily turn signal up in volatility soon- the question begs- will the VIX gap stay open? It may not matter at a near-term degree:

On 7/6/21 a VIX gap up preceded a 10-day decline of minor degree so the option is open even with an unfilled VIX gap up created in a local time window.

A prior VIX gap up that was being watched from 7/6/21 was filled on 8/13/21 just before the above mentioned turn signal on 8/17/21. The current gaps are local inside a shorter time window and are entirely appropriate in a volatility launch up leg situation.

ES 5000+ ANYONE? [see bottom chart]

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