Garden of Good and Evil

[Theo]

re: your article. Rising prices while open interest declines sounds bearish to me.

My take-away was this part-

Rather, the point of this is that having VIX open interest below the 200-MA is useful for ruling out the possibility that prices are now at a major top.

It wasn't that the open interest had fallen off- it was that it had fallen below the 200 day MA. The 200 day MA apparently, according to the author, is the harbinger of a market top and the recent pullback from the 200 day line simply suggests the market still has legs. (This is only MY take)