Volatility of Volatility Index

As the saying goes, "still water runs deep", VIX has dropped down from 30 to 16, but the VVIX is still very high at 100.

The VVIX measure the cost of buying a measure of the cost of insurance which is the second derivative of cost put protection

It could be a sign of serious fear still lying beneath the surface of the stock market.

The price is contained in normal uptrend channel. I suspect another higher high to give a bearish MACD divergence. Besides, we shall see whether the RSI trendline is able to provide support