VIX Turning Higher

02/24/2009 12:02 pm EST

Focus: OPTIONS

Thomas Aspray

, Professional Trader & Analyst

chart

The VIX moved higher Monday, but not as much as many would have expected, closing up just over three points. More fear might have been expected, but the moving averages again have turned positive, and a close above 58 should confirm a new uptrend. This would be negative for stocks. Key support in the 35-40 area.

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