VIX Plunges

11/05/2008 12:00 pm EST

Focus: OPTIONS

Thomas Aspray

, Professional Trader & Analyst

chart

The VIX dropped sharply from the highs at 87 last week as it ended at 47.7 Tuesday. It has dropped well below both the ten- and 20- day MAs, but the MAs are still positive. The break of support suggests a top is likely in place. Could see a bounce in the next week before the MAs could turn negative.

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