VIX Still Negative

09/26/2008 12:00 am EST

Focus: OPTIONS

Thomas Aspray

, Professional Trader & Analyst

chart

The VIX has turned lower but is still in a solid uptrend after its MAs turned positive in early September. A drop below the ten-day MA would be the first sign of a top, and a close below last week?s lows would be more conclusive. A move above the mid-September highs would be very bearish.

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