SPY Broke the Resistance! (how the VIX foretold it...)

SPY SPY did it! SPY and the stock market indexes broke and closed above the 50% Retracement of the recent correction. Rocket emoji time! But how did the VIX give us a clue?

I have been watching for this level since last week's mass capitulation dump. I'm operating under the thesis that we just had our once-every-two-year -10% correction. The 450 level on SPY (4500 on /ES) was the line in the sand to hold or break if this market was going to stay bullish. So far today it has.

One thing we looked at this morning on social media while we were live trading was the VIX. Yesterday VIX closed below a key level which gave a hint to what would happen today...