Both Prophet Charts and TOS Charts posted a VIX early morning bar with a high of 38.84 that really threw me at first. This was just a bad tick, but I am used to Prophet being pretty good about fixing bad ticks and since it stayed there all day it was a bit confusing.
I verified with CBOE that the high was actually only 28.32
http://www.cboe.com/DelayedQuote/SimpleQuote.aspx?ticker=VIX
This paints a different VIX picture then if it really would have had a high of 38.84
The daily charts on the indices look stellar now, but with the recent high VIX at 30 I'd still like to see some confirmation in the next few days before I'm convinced of a bottom. I makes since to hold this support area, but without a significant VIX spike we will need several days of consecutive highs to confirm a bottom here.
VIX Daily Chart with Bad Tick for Wednesday: (Correct High was only 28.32)
Wednesday, July 16, 2008
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