VIX at 50.04 with SPX at 798.
The VIX hasn’t been over 50 since January 23rd.
It will be interesting to see what the SPX does for support today now that the 800 level is taken out.
Internally, the financials are the main culprit in the early going, as technology and small cap stocks have already started to rally.
The DJX traded within 105 points of its fifty-two week low this morning and is likely to trade to a new fifty-two week low. Based on this scenario, the SPX is likely to trade further below 800. A spike and new fifty-two week low in the DJX corresponding with a spike high in the VIX may signal a short-term buy signal.
ReplyDelete