VIX Resumes Downtrend
07/15/2009 1:37 pm EST
The VIX broke its daily downtrend last week, giving some bears hope, but the ten- and 20-day MAs were negative at that time. This indicated that it would take a week or more before the MAs could turn positive. The drop this week is a positive for stocks. The bullish action in the A/D numbers on Monday (July 13) appears to have been on target.