VIX - detonator clock still ticking

Todays action was kinda dull, nothing significant yet. Lets take a brief look at the VIX

VIX is still failing to show any significant moves, although the underlying negative cycle - that has been ongoing since last October is likely soon coming to an end. Immediate upside target remains 20/21, max' upside 24/26 on any brief surge.

Weekly VIX offers hope for entertainment in March

Note the MACD cycle, its still around 2-3 weeks until positive cycle begins. Even if VIX 20/22 is hit this, it'll likely be another 2 weeks until we get a confirmed VIX buy signal. Those holding other VIX instruments like VXX/TVIX should be able to comfortably hold until then. 

What is good is that we do seem to have a very secure floor now of VIX 16.