the VIX last friday broke below the 30 mark and now is re-testing that level from underneith. 30 obviously was a key level to watch for support and its failure speaks to an increased chance of higher prices in the SPX over coming days.
the 23 level on teh SPX is what we are looking out for as potential support next. the VIX itself is not an actionable catalyst to trade on but merely one of the indicators worth watching for the broader picture.
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