VIXploitation continues, as the “fear index” continues to drive stocks higher. Yesterday’s collapse in the last 30 minutes… 
…was enough to shave 10 points off of SPX’s losses. 
Nothing new here.
Note that ES’ previous pushes above its 2.24 Fib (dashed purple line) required that VIX dip to the yellow horizontal support at 16 (b, c and d.) The latest, however, required a drop below that support. In other words, it’s requiring more effort to effect the same result.
Are investors finally catching on? Maybe, just maybe, there’s more selling pressure from the carbon-based crowd than usual.
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