VIX Breaks Downtrend

07/08/2009 10:37 am EST

Focus: OPTIONS

Thomas Aspray

, Professional Trader & Analyst

chart
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The VIX rose sharply Tuesday, breaking the three-month downtrend on the daily chart. The ten- and 20-day MAs are still negative and it will take a further rally over the next week to turn them positive. There is still strong resistance in the 40 area with no strong signs yet of a bottom.

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