Vix double spike completed on Friday morning- surf is a go for day traders

Going over my charts on the Vix once again.  The first spike was confirmed on Wednesday morning to the 80s, then a morning spike to the 90s on Friday as stocks opened with -500 completed the second spike.  Monday’s selloff was expected, as trading was light.  The Vix did not spike last Thursday, but rather moved up at a low parabolic rate.  These numbers are telling me the Vix is trading at “extreme levels” so its a good time to start digging for a relief rally.  The Fed news, however, throws a wrench into the system so beware.  Wait up… I just checked the futures, up about 300 points on Dow!  Will the VixTheory work here?  I’m not really a fan of premarket action, so I can’t say much about what that’s printing.

Tomorrow, we get the Fed news volatility.  I’m expecting good surf in the early hours, and in the final hour of trading.  Watch for volume if you’re planning on going on the long side.

Two ways to play the tape… fade the first reversal on the morning gap.  Or (2) play the accelerating momentum at the close… that could go either way, but I’m expecting up, else no trade.