The S&P 500 Volatility Index ($VIX) fell for the first time in 3 sessions despite tagging a midday high of 15.39. Upper resistance at 14.50-15 and the 200-day moving average was breached but held for the 2nd-straight session.
The fade to 13.75 afterwards and close below prior and upper support at 14-13.50 was a healthy signal volatility is easing and may have peaked. A close back below the 13 level and the 50-day moving average before week’s end would be a more bullish development and signal a possible return to all-time highs for the market.
