Read this From Fake Bull to Angry Bear article and started feeling shaky, but then decided to look at the two-year VIX chart since I always overlook VIX when doing my analysis.
It appears to me that VIX is negatively correlated with S&P a lot of the time and this is very evident on the 2-year timeframe. So do we have good news ahead as VIX seems to have topped out in August 2011?
Last time this happened, we had an extended period of upwards momentum.
I'm eyeing potential support at 30 and then 23.5 on VIX... Lord have mercy and may this horizontal support at 30 hold! I think I'm going to look for another European bank play - maybe, sort of.
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