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Today we noticed something very interesting with the VIX chart. The action is outside the bollinger bands, and that has not happened for a while. Each time this did happen, the action soon came back down inside. So this could mean a nice significant rally is just around the corner. Historically I like the chances, but we shall see.
Today was a tricky day on the S&P. The daily chart right now is still suppressed. However the low 1400's are going to be crucial. We could also be setting a bullish falling wedge, or it could be developing which sort of confirms the weird action in vix.
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