Volatility Indexes Not Confirming Another Leg Down

Some interesting action in the VIX and VXO this week and especially today. Even though the market turned down today and yesterday, the VXO especially hasn't confirmed further moves down. With the markets mixed at the moment, the VXO is trading with a 5% loss. For now at least, the end of May marked the peak in fear. Could be very constructive for a move higher.


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