What Just Reached a Critical "Pivot Point"?
The Volatility Index is at an important "Pivot Point". Yesterday, it closed on a critical 4 week support line.
What it does today and tomorrow will determine if the S&P 500 falls to the downside and retests the recent lows ... OR, if the S&P 500 breaks through its upper resistance line and makes a possible run to 1100.
This is the time for you to pay close attention to what happens on the VIX. Our studies show that the VIX has a correlation with the daily amount of Institutional Buying and Selling and more specifically ... the SPREAD distance between the two that occurs. So, the VIX's action will also be an indirect reflection of Institutional activity in the next two days. (Actual Institutional Investor Buying and Selling levels are shown every day on our paid subscriber site.)