VIX UPDATECBOE Volatility IndexCBOE_DLY:VIXPrinciplesofmathprobWe were waiting to see if it would head toward the lower parallel and how it would react, whether it would bounce to maintain the bullish structure or break through it, signaling a clear regime change. As you can see, the VIX is clearly bouncing within the structure, moving up and down, therefore, there isn't much to do or analyze here other than following the existing flow. From experience, I know it can stay within the channel for a long time, days, weeks or even months without breaking out, bouncing back and forth. In those cases, it’s pointless to over-analyze; you simply stick to the existing regime and trade within it. On the other hand, this implies that the recent 'truce' regarding the war, which pushed indices higher, doesn't necessarily mean we should buy into the hype. We respect the market, not external narratives. Until it clearly breaks the current structure and regime (bullish in this case), there’s no reason to speculate otherwise. Price action comes first. Along those lines, any upward move in the ES is considered suspicious until it clearly breaks through resistance, and the same applies to the Nasdaq. Setting up a long position within this structure might pay off once, but it’s a losing proposition in the long run. It is far better to wait for a breakout and then enter on a pullback once the new uptrend is confirmed. It requires more data and more patience, but it cuts out losing trades that go against the current trend. If the markets break higher, we are simply going to be ready to capture the new flow. Otherwise, we stick to the actual regime. Below I attach two charts, one for ES and the other for Nasdaq As far as I'm concerned, let them break to the upside before planning a long trade.