The TradingEdge

[rimshot]

inverted VXO smoothed with the 8-day ema, and SPX daily closes above the main chart body (chart by "mss")

because VXO is inverted, the current location above the yellow tl is a violation of the rising bottoms tl in a smoothed VXO which is not inverted ... bullish for the SPX price action while this VXO configuration prevails, but a caution about possible extreme that could easily reverse

http://stockcharts.com/c-sc/sc?s=$ONE:$VXO&p=D&yr=1&mn=6&dy=0&i=p82675472712&a=159907575&r=5443