Holding the Line

Can VIX be contained for another few days? If you want to know what’s going to happen in the market this week, that’s the critical question.

As weak earnings reports and economic data have dribbled out over the past week, VIX has tested its 200-day moving average almost every day. Every time it comes close, it gets smacked back down. So far, those tasked with preventing another leg down in stocks have been able to hold the line.

It’s how ES, directed by algos, climbed back above its 50-day moving average and managed to remain there. So far, at least.

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