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The VIX and the Options Market
The VIX, of course, is taking the implied volatility of the S&P 500 with the options market and we've seen a big spike in that. What is this telling you in terms of your squeamishness factor, I guess? Well, I look at the VIX as being very tactical, just like asset flows might be tactical in the Qs or in spy. The last three of the past four times that the VIX was up above the 21-day moving average was D7 to Jan 5. So now we're going back to those support levels right that we were looking at.