The SPX sold off hard today and gave up 38 points, but what is very interesting to me is that the VIX didn't move up proportionately to the move down. At first glance that tells me that although the price tanked the FEAR didn't match the price movement and might mean a hard reversal to the upside tomorrow. .... OR, the market tanks tomorrow AND the VIX shoots back up to 30 and people really do start to worry hard.
We'll just have to see how it plays out, but it's something to keep your eye on as the VIX can often be our first sign as to which way the price is going to move. We saw the VIX gives us some great clues earlier this week on the intraday charts.
VIX Daily Chart:
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1 comment:
nice blog
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