"No warning can save people determined to grow suddently rich" - Lord Overstone

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Watch The VIX Today

Today's a good day to keep a close eye on the VIX (The Volatility Index which moves opposite to the market's direction).

Why?

Because it hit its resistance line yesterday so many traders will consider it a "pivot point". This will be an important test level today.

There is a short term bias to the downside with Inflowing stock market Liquidity that could be strong today. However, if the battle becomes tough today, a VIX close above than 16.2 would carry negative connotations with it so keep an eye on it ... see the chart below.

Daily VIX Chart

 

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