Action of VIX Still Positive
05/18/2009 11:58 am EST
The ten- and 20-day MAs turned negative on the VIX on March 13th and the VIX now continues to move lower, which is positive for stocks. Given the gap between the moving averages, it would take a week or more for them to turn back to positive. There is resistance now in the 37-40 area, with stronger resistance above 45.