Monday, April 27, 2009

VIX testing the 20 dma

The VIX has be straddling the 20 day MA all morning. It is quite a battle. Depending on the move today, it could be a tell whether market is headed higher or lower from here. As long as the VIX does not come off the of the 20 dma to a level close to the open, I think that is a bearish signal that we could cross the 20 dma and hold. I want to see the VIX close 2 days in a row above the 20 dma before making a decision though.

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