With the indexes
falling to pieces in the closing hour, the VIX closed for the second
consecutive day above 20. In the brief AH trade, the VIX closed
+16.69% @ 22.72. There was a notable spike of 23.23. The weekly close
of VIX >20 is very significant, and a major warning of an index
collapse wave.
VIX'60min
VIX'daily
VIX'weekly
Summary
A great deal of technical damage
was achieved by the bears this week.
First, the two daily
closes >20.
The weekly close >20.
The fact we closed in
the 22s is a massive bonus to the bearish outlook into January.
Do not be surprised if we see a VIX (briefly) in the 30s next week, along with sp'1350/40s
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More later, on the those busted up indexes