Implied Volatility Breaks Out

India VIX jumped just before markets closed. In doing so it broke out of a triangle like pattern on the daily chart shown here. The red arrows show the lowest readings on record that I highlighted into the August top. After that correction the VIX has been moving higher and not lower as the trend toward higher volatility probably gains momentum. There have been many false flags on this front so watch if this trend of a higher Volatility reading holds. A higher VIX is usually associated with falling prices.