Another VIX Warning

03/03/2009 1:43 pm EST

Focus: OPTIONS

Thomas Aspray

, Professional Trader & Analyst

chart

The VIX broke its previously noted downtrend last week, then after dropping back to its MA, has turned higher once more. This appears to be setting the stage for a move through resistance at 57, which would suggest a rally back to the 70-80 area. This would indicate more heavy selling in the stock market.

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