Thursday, May 29, 2008

VIX: Riding the Range

The VIX continues to trade near the bottom of our box and spent an hour or so in the sub-18 no-fear zone today.

We'll be watching these levels for the next few days to see if an inverted Head and Shoulders continues to form on the daily chart. This may take a week or two to develop so we'll be patient and just be aware that a pattern could emerge. (That would be bearish)

VIX Daily Chart:

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