$VIX Breaks Out of Bullish Falling Wedge on Kagi and Forms Bear Trap on Point & Figure Chart

The $VIX demonstrated: 1. a breakout of the bullish falling wedge pattern; 2. a new Black Yang Bullish Line on the Kagi chart (blue arrow), and; 3. a Bear Trap on the Point & Figure chart. A bear trap is a triple bottom breakdown followed by a reversal after only one box is made in the triple bottom breakdown. In this case, the latter is signified by the "0" in the 57.0 line. The breakdown is possibly due to stop loss orders or short orders being hit just below the support level, and the quick reversal suggests higher prices ahead. These chart patterns suggest that the $VIX is on its way up and the stock market is on its way down.