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Friday, September 18, 2015 12:58:43 PM
VIX BOUNCES OFF 20 SUPPORT LEVEL... My Wednesday message showed the CBOE Volatility (VIX) Index nearing a test of potential support near 20 which included "gap support" formed a month ago (see circle). A prior resistance level usually provides support. After dipping below the 20 level briefly yesterday afternoon, the VIX has rebounded. As I suggested on Wednesday, a VIX bounce off the 20 level isn't good for stocks. We'll be watching to see if that 20 support level holds.
BY JOHN MURPHY
BY JOHN MURPHY
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