We've all heard the saying, "When the VIX is low, time to go."
That sure seemed to be the consensus with the 12:30EST sell off today.
Personally I am trading in a very tight time frame as I respect the up trend but I am also very aware that we are overextended and at key resistance levels.
The past couple of days have shown some great intraday battles with both sides putting in some strong moves both up and down.
It will be interesting to see if the VIX can actually go lower this week, but it seems the probabilities might favor a rise in the VIX and the market to pull back and rest a bit before deciding if it wants to keep moving up.
$VIX 1 Year / Daily Chart:
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