Look at the VIX soar

[MrDODGE]

It is the best indicator today. In the past several weeks even on a big down days the VIX has stayed steady or even declined.

Is the phantom rally over? Is this the start of the next leg down?

So much for the 35 support level that was being spouted off on CNBC the past couple days. Maybe they should be looking at 50 as the target.

 

[stevegee58]

My long IV positions are perking back up again. Wahoo!

 

[MrDODGE]

The low index future volume is also a bit interesting.

 

[Random.Capital]

Quote from MrDODGE:

So much for the 35 support level that was being spouted off on CNBC the past couple days.

Perhaps someone should point out to the wizards on CNBC that "support" is a meaningless concept for something that cannot be directly traded.

 

[S2007S]

Fast Money was all about the VIX last night.....

 

[sumosam]

i agree about the vix ready to take off...haven't taken a position just yet