Thursday, September 18, 2008

VIX Spikes to 38.32

Moments ago the VIX spiked to 38.32, the highest VIX level recorded in the past six years surpassing the 37.57 VIX spike back on January 22nd.

With the weekend coming up and so much uncertainty in the markets, I am concerned that we may still be several sessions away from a Brunhilde Day. On the other hand, a strong finish today on impressive volume and lots of breadth would help to make the case for an intermediate-term bottom.

2 comments:

Anonymous said...

IMHO, running theory so far is that with $VXN at intraday highs with $VIX-$TYX (I like $TYX v. $IRX) non-confirming, that's a positive divergence.

corporate/high-yield bonds (LQD/HYG as a proxy) are key. Stabilization/rise = return of risk appetite.

Alex Marion said...

looks like the july 2002 rout to me

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