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VIX and the S&P - The Emperor Has No Clothes

TVC:VIX   Índice de Volatilidade S&P 500
VIX has been trading in a peculiar way for the past several weeks. After the last downdraft in equities, it has refused to go down. Interestingly, today it hit this up sloping trend line for the 3rd time. If this trend line breaks down, chances are the S&P will go up to new highs. But as long as it holds, VIX is basically saying "The Emperor has no clothes!".
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