VIX Rising

01/16/2009 1:55 pm EST

Focus: OPTIONS

Thomas Aspray

, Professional Trader & Analyst

chart

The VIX completed the double-top formation and dropped below the 40 level, but has held above the support in the 32-36 area. It has now rebounded to the 51 level, and if it continues higher, the ten- and 20-day moving averages, negative since December 4th, could turn positive. This would be negative for stocks.

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