VX Coiling Before CPI

VX looks primed for a move up to 16.60 after a descending channel breakout and retest. Makes me wonder if CPI is about to come in hot or have a negative reaction. We'll find out soon enough. 16.60 will be key for VX to get above and stay above for bears to have a day.

I'll have bearish bias until VX falls back below 16. Ideally we'd get a long opportunity on SPY when VX hits 16.60. Will look for SPY puts instead if VX sustains above 16.60.