Volatility Surges

The VIX index ripped higher this afternoon on no news. It was notable because I went through charts and could find a plunge in any major S&P 500 components or sector ETFs. Instead, it looks like the market got nervous after Tesla and Google stopped propping it up. VIX started rising rapidly and then accelerated in the last hour of trading. I have been bearish for a reason and the rapid dip in shares this afternoon is a sign of how quickly an air pocket can be hit. The question now is whether VIX can break resistance and move back into an ascending pattern. Futures have bounced after hours so no follow through overnight yet.