My last post here on this subject of the Vix called for a bottom in the Vix and a subsequent top in the index at 1146-1150 levels, levels which we have not seen since.
Let’s look at where the Vix is today after that post.Here is a YTD chart of the VIX:
Another look at the 10 year chart:
The McCellan is showing that the index has some more to go on the downside and we are not below my green line again.
So we will be here on the index for some more time…maybe flat to up but no major downside anytime soon.