VIX back at critical support. Can it bounce here? For the past two years it has done so religiously and in the process has stalled out any market rally that was underway.
Which is interesting because the current market is rallying to new all-time highs, but remember how the past 15+ months it couldn’t break through and establish new all-time highs either? But now it is.
Which obviously raises the question whether the VIX can do what the S&P 500 did and break through a critical price level. For the VIX to pull it off it will need to break below 13 and stay there.
By that happening, it will go a long way in validating this current market move. Fail here, and you’ll have the opposite effect.
