Today the VIX hit an all time hight of 38.30. These levels have never been seen before. It make the buy signal even more suspicious because of the strength of that move in the VIX. I asked around, and it wasn’t a bad tick. It was across all different types of platforms. It makes me wonder what was going on behind closed doors. We could have just seen market manipulation at it’s finest.
On a different note this gives the market an excuse to rally. My call is a rally into the ambush zone on the chart above before the next leg down to the 1095 area. Pure speculation, but looking back at history is a good predictor of the future. The charts don’t lie.