Fear Index tanking, after hitting this resistance!

Below looks at the VIX (Fear Level) over the past few years. A rally had taken place in the VIX, driving it up to falling resistance and its 50% retracement level at (1), in the chart below.

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We shared the chart above last week on Twitter last week

Twitter

getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+"://platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs"); One of the reasons Premium and Sectormembers bought XIV, was due to this pattern and a seasonal pattern in stocks (strong the last two weeks of April). The VIX index is down nearly 40% in the past week, following hitting resistance at (1). Members this morning are pulling up stops to protect gains.

 

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