They say a bell doesn't ring at a market bottom. Has the vix over 30 become the bell that won't ring?
Either the VIX over $30 or some actual positive economic news that isn't GM giving away cars will turn it around.
Could be - everyone depending on the same indicator usually makes it worthless in terms of predictive value (or a self fulfilling prophecy).
the vix does look like it's breaking out of that mini triangle.. We're getting close to the bottom, not willing to risk 15% of my cash on it just yet
Man I don't know what makes you think that the bottom is in. Have a look at the S&P weekly chart and see how many potential double bottoms you can see on the way down in 2002. VIX is a pretty useful indicator I'm still shorting against a] The previous days high, and b] The 3 days high. You may see a bounce but IMO the market needs to capitulate and finish the last wave of transfer of wealth from weak hands to strong hands before it goes up. Cheers