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VIX Trying To Push Through Resistance

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August 05, 2011 – Comments (0)

It has been an extremely tough couple of weeks for market bulls, and after the market failed to hold the rally off of a good employment number, the market longs were left to wonder whether we'd ever see a rally, in the near term, from this drastic market sell-off that is leaving a lot of dead bodies in its wake.

The VIX chart below is fairly interesting as we've pushed, now through the 30 mark on the VIX, and have exceeded the highs seen from mid-March. However, there is a slim hope out there that the resistance it is now pushing up against, might spark a rally of some kind in equities to finally get this market off the ground. 

Here's the VIX Chart Analysis

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