VIX: New Lows

VIX’s 200-day moving average just registered a 10-handle for the first time ever, dropping to 10.99 this morning… … in order to keep S&P futures in their recently re-acquired rising purple channel.  We saw another test just yesterday (the yellow arrow.)As we discussed last week [see: The Chartist’s Dilemma] this channel dates back to August 17.  It has broken down on multiple occasions, always springing back to life when resuscitated by timely plunges in VIX.With the year-end just ahead, will the excesses of the past year prevail or are stocks finally ready for a rest?

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