With VIX getting crushed today, I feel like general sentiment is that we have reached a temp/technical bottom. Any other posits?
we've had similar vix days (with corresponding mkt rally) and all that it turned out to be was a one day rally followed by lower lows in the following days so I don't think you can read too much into the vix being down a bunch as a DEFINITE indication of anything substantial.
It is atticus who has caused it. He has been selling OTM puts, and buying OTM calls, which caused VIX to crush.
If you take a look at the monthly and weekly charts, you'll see that neither one has turned bullish (although we may be forming a temporary bottom). So this is pretty must just one day's worth of action.
vix means nothing nowdays. You need to see follow through, so far today is chalked up as a technical bounce after 4 days of major selloff and a double bottom support at around end of nov. Price actions tomorrow till end of this week will determine what today's bounce means.
Your "technical bounce" is a crock of BS the market rallied because Bernake said the recession would most likely be over this year and all the fools believed him. ...technical bounce my ass! LOL.
bernanke's statement is just the trigger, when the spring is winded too tight it always wait for some sort of trigger, and unwinds. In this case it also just happen to be sitting around major support of nov lows. Do you really think bernanke's generic rant would cause a massive rally like it did today by itself after 12 months of the same? Learn price action or get back to the yahoo board.