VIX - Not so fast bulls

The put/call ratio (see chart on front page of website) helped telegraph what turned into today's flagpole rally. However the VIX looks to be saying "keep your heads screwed on straight bulls". By my eye, the VIX looks like it is in an ascending triangle stance and is taking a breather before heading for a potential breakout. Also, the lower panel indicators appear to be coiling for a move. Keep an eye on the lower trend lines of these indicators as well as the noted support for RSI. If VIX breaks out to the upside, life as you and I know it will likely change to whatever degree.