VIX Signals More Selling

09/05/2008 12:00 am EST

Focus: OPTIONS

Thomas Aspray

, Professional Trader & Analyst

The VIX has turned higher with Thursday’s sharp rise. The 10/20 day MAs are positive suggesting further selling. Would expect the VIX to move well above 30, the S&P and Dow broke key support with next downside targets at: S&P 500 – 1200, then 1150-70 and for the Dow at 10,800 then 10,300-500.

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