VIX Double Top?

12/09/2008 12:10 pm EST

Focus: OPTIONS

Thomas Aspray

, Professional Trader & Analyst

chart

It's still too early to tell, as the VIX remains in its broad trading range, though the MAs have turned negative again. A close below 55 would be the first sign, as that would break short-term support. A daily close below 45 is necessary to complete the double-top formation and suggest a move down to the 30 area.

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