The VIX today made another lower low on the daily.
This past week, I have mentioned several times that the VIX has a tendency to due this as it forms and re-forms in a bull falling wedge pattern. The pattern is bullish for the VIX (bearish for spx) but the pattern also calls for the VIX to move lower (SPX higher) before the pattern completes and finally sends VIX higher and SPX lower.
For now, the VIX remains bearish until the wedge decisively breaks higher.
* ChristopherStockGuy is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. For details, see the post from SATURDAY, AUGUST 15, 2009 titled "Disclaimer".
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