Given the exponential rise in the VIX as the S&P was falling, the violent rally of the last two days was expected to be accompanied by a steady decline in the VIX.
Not so fast.
VIX keeps on hovering around 61-62 despite a 250+ points rally. Additional bounces from the S&P to be taken with a lot of caution, and potentially faded around the 2660-70 area (which is a likely retracement and the 'line in the sand' to see whether we had really bottomed or this is a dead cat).
Not so fast.
VIX keeps on hovering around 61-62 despite a 250+ points rally. Additional bounces from the S&P to be taken with a lot of caution, and potentially faded around the 2660-70 area (which is a likely retracement and the 'line in the sand' to see whether we had really bottomed or this is a dead cat).