Volatility Moving Lower

01/05/2009 2:00 pm EST

Focus: OPTIONS

Thomas Aspray

, Professional Trader & Analyst

chart

The double top in the VIX, first identified on 12/8, was confirmed on 12/17, consistent with the recent rally in stocks. The moving averages are still negative and would take some time to turn around. Next support in the 30-34 area.

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