VIX jumps for new uptrend channel, borrowing existing trendline on its long-term bigger-picture chart

The VIX popped above resistance yesterday and looks like it's established that it's uptrending again. Congrats to Mike on your VIX 30 calls! That said, it's also pushed above the upper Bollinger Band, and very close to its 200-day moving average. Just as interesting, on my weekly chart it's also revisited with a kissback to the former uptrend support line that it broke when equities went into the second rally leg up. My sense is that this uptrend line will become useful again to help define the new uptrend channel. On any pullback of the VIX, we should see it get support along a new parallel support line.

For any pullback, it will also be reasonable to see the Bollinger Band midline become a support area, which should help define a new uptrend for the VIX.