VIX at 25.93. If VIX rebound, SPX may fall again 
.
Can the VIX Predict Pullback?
By Steve Smith
On Tuesday June 23, 2009, 2:30 pm EDT
But even as the market continued to rise in late May and early June, the VIX became sticky, remaining near 30 even as the 20-day historical, or real, volatility of the�S&P 500�declined from 28 to 24 during the past month. This has led some to the conclusion that 30 was an important level that indicated the market was poised for a pullback. Yesterday's sell-off -- and the accompanying jump of the VIX back above that round number of 30 -- seems to confirm this theory.
Most people tend to use it as a contrary indicator. That is, like most sentiment readings, when it gets relatively high -- an indication of fear or caution --�it's taken as a bullish sign. If it's low --�which is�interpreted�as complacency -- it's regarded as bearish.
http://finance.yahoo.com/news/Can-the-VIX-Predict-minyanville-530445232.html?x=0&.v=1
.Can the VIX Predict Pullback?
By Steve Smith
On Tuesday June 23, 2009, 2:30 pm EDT
But even as the market continued to rise in late May and early June, the VIX became sticky, remaining near 30 even as the 20-day historical, or real, volatility of the�S&P 500�declined from 28 to 24 during the past month. This has led some to the conclusion that 30 was an important level that indicated the market was poised for a pullback. Yesterday's sell-off -- and the accompanying jump of the VIX back above that round number of 30 -- seems to confirm this theory.
Most people tend to use it as a contrary indicator. That is, like most sentiment readings, when it gets relatively high -- an indication of fear or caution --�it's taken as a bullish sign. If it's low --�which is�interpreted�as complacency -- it's regarded as bearish.
http://finance.yahoo.com/news/Can-the-VIX-Predict-minyanville-530445232.html?x=0&.v=1
.
.
.