Thursday, November 12, 2009

VIX Rises As SPX Hits New High

In a somewhat unusual move, while the SPX was closing at a 50-day high yesterday, the VIX actually closed higher. Below is a look at other times this has happened during the middle of the week.

These stats suggest a downside edge. Apparently the VIX should not be on the rise when the SPX is hitting new highs. The fact that it rose Wednesday implies a short-term pullback.

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