Read This Chart
Wow, some really good news must have come out on that one. Maybe Cramer talked about it. But it’s held up well after that spike, no?
That, my friends, is the VIX. To me, it looks like it had a massive change of direction back on February 27 and has been catching its breath since. Perhaps it’s in the old refractory period, waiting for the Viagra to kick back in. Getting ready for another up-thrust (which would be a market thrust down).
Looking at this chart, I can’t imagine it dribbling back down to 10 over the next few months, which is what would be required for a major market rally. Can you?