The VIX has a habit of spiking and then quickly coming down relatively quickly. At least that has been the pattern since early November. Each time there is a significant rise over a short period, it has been a contrary indicator – within days.
We are watching for “oversold” levels that are beginning to show as the KRI indicator is trending into negative territory. A good flush from here for major indices could create a nice entry point for a contra-trend trade.
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