As we look at the VIX we note the historical impact the level 20 has had in the past. The last two times the VIX peaked above 20 were October 3rd 2023 and 30th 2023 which were the two bottoms of the SPY in the last 6 months. Using VIX and noting the significance of action above 20 is very important to understanding the psychology of the market.
Use 20 as a key level to either hold above for a long term pullback for the SPY or just a spike on the VIX and a bottom out on SPY
Use 20 as a key level to either hold above for a long term pullback for the SPY or just a spike on the VIX and a bottom out on SPY
