The US VIX Index, or “Fear Index” spiked higher last week only to again fail in the mid-20 region as stocks recovered. The pattern remains the same with 7 sharp rallies over the last 12-months failing as investors buy the dip in stocks, the odds are steadily increasing that we will see a spike higher that follows through to 30 / 40 hurting the traders who “fade” the move i.e. markets often travel along the path of most pain.
MM remains bullish volatility from current levels
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