You can see from the chart, above, that there is a big gap in the VIX above the market. The price has already bounced off of support and it looks as though the volatility in the market is starting to climb. This is usually a sign of a market top. Remember that the VIX is a contrarian indicator to the S&P so a rally in the VIX will result in a drop in price for the S&P 500. TOO 020713
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