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July 20th, 2010: Update 5 – VIX

Posted by pugsma on July 20, 2010

2:05 pm EST:  As I was indicating since the EOD on Friday, the CBOT options traders never confirmed the OPEX drop in stocks Friday morning.  The big-time smart money has been buying SPY Calls since about noon on Friday, hence the VIX has been dropping.  Today, we are seeing in a bearish engulfing candle on the VIX and if the 200-day SMA at 23.43 breaks the bulls will bust through the gate and gore every bear in sight.

SP-500 VIX (1:46 pm):

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