Vix Attempts

What I would say is most unique about this Vix daily chart is that a hammer candlestick formation formed the day after Thanksgiving.  This stand alone bullish reversal did well on the weekly candle too, to make things even more stark, it was the only hammer printed and its lower wick is 5-6x the height of the body!

What I have done with this daily chart is I have superimposed descending trendlines along each of the downwaves to note time and magnitude

•  I have taken this chart and went from peak to trough as opposed to trough to peak, the 16.5 or near 17 to 9.5 [High to Low] range normally lasts between 20 or 23 days give or take a few churning or chopping days or when the market does put in minor tops it takes time before the bears can accelerate their plans.  A down market leads to a higher Vix.  
• This "completes" one of the longest down cycles in the Vix for this part of record for 2017; highlighting the off the charts complacency,  I am not saying it could get better or worse, but its powerful 
• The discount typically has lasted 40 to 46% that goal was met Friday with a the greater amount happening in the last few moments of trade
• I am not sure if the Vix matters anymore, the convention was that a low Vix was a warning sign, and not good for whatever record level of optimism that has set in

Normally the next 7-8 trading days are when the Vix takes off tremendously after the reversal and following slide in the S&P 500

This second chart of rising price but falling volume does not always end well or confirm that a move has staying power