Guy Adami Thinks That VIX Is Going Higher

Guy Adami said on CNBC's Fast Money Final Trade that we have a double bottom in the VIX, and it is going higher from here. Guy Adami has a bearish outlook on equity markets, and this signal, in his opinion, confirms his bearish view. He explained that the 50-day moving average is still significantly lower than 200-day moving average in S&P 500, and both Intel INTC and Alcoa AA are losing ground after good earnings reports. If you agree with Guy Adami, you should take a look at iPath S&P 500 VIX Short Term Futures ETN VXX. VXX gained 3.72% today, and closed at $25.93.