Last week, VIX shot up above its 200-DMA and experienced a bullish 10/20-DMA cross (bearish for stocks.) It even backtested its 200-DMA on Friday – leaving bears a rare bit of encouragement for the coming week.
Naturally, VIX was slammed back below its 200-DMA and is showing a 12% decline on absolutely no news (JNJ’s vaccine approval was already a done deal) as we approach the open. The algos are delighted.
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