10% Spike in VIX in Past 2 Days…
There’s been a 10% spike in volatility over the past two days and the market is now slightly oversold (ConnorsRSI reading of 33.59). The price movement in the US is muted but the fear has begun to rise as seen in the VIX and also seen in the Latin American countries which tend to swing quickly to extremes. A normal pullback will see a bottom within the next few days and then a resumption of the longer term upward trend.
Today’s Potential Opportunities on Further Pullbacks: