- SPY price has been caught in between the short-term trend resistance line and the mid-term bullish support line for the past week. It is because of this convergence of trend lines that I anticipated last week that VIX could see a pause from its recent ascent.
- While FVE indicator is still showing an uptrend, the pace of its trend has slowed as well, just as the trend of VIX & SPY has come to a pause.
- The question now is--Will VIX move higher to just above 25 or back down to 15? Unfortunately, I will not bother trying to predict what volatility will do when the situation calls for a coin flip. But I would imagine that new developments out of Europe and fresh economic indicators would point the way...and do so in the next few day...
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