VIX/VXO update
Analysts clamoring for a higher VIX in order to confirm a bottom are suddenly very quiet as we hit a high of 48.40, surpassing 1998 and 2002 peaks.
The old VIX (OEX volatility), now VXO has seen higher levels in 2002, 2001, 1998 and 1997. In 1987, there was no volatility index, but calculation have been made that put it north of 150 (Vix and More).
Will today (and tomorrow's) action be remembered as a great buying opportunity, or the beginning of the biggest cataclysmic event since 1929?
All I know for a fact is that today's gaps will be closed one day: SPX 1215, COMP 2185, QQQQ 41.17. Futures: ES 1214.50, NQ 1677.
This entry was posted
on Monday, September 29, 2008 at 9/29/2008 06:21:00 PM.
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