The “Fear Index” woke up from its slumber on Friday as the Dow fell away finally closing up 17% on the day, albeit from very low levels. We are only looking for a ~7% downside from the S&P500 hence another test of the 30 area is likely to cap any rally in the VIX, unless of course it happens in a panic 24-48 hour style move.
MM remains bullish volatility from current levels
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