VIX continues descent.

VIX continues descent. The CBOE VIX declined slightly on Thursday as stocks lacked any real direction in early trading, down 0.74% 10.67 at time of writing.

The S&P500 VIX Index appears to be in a falling trend, a continued decline within the falling trend can be expected. In addition, the current price action is now close to the bottom of a trend channel which may provide a upward reaction. The VIX currently has support at around 9.40 and resistance just below 18. A strong break through one of these levels would likely indicate a new direction for the index. The index is overall assessed as technically negative for the long term.

VIX continues descent

Moving Averages

Period                    Moving Average   Price Change       Percent Change

5-Day                     10.60                      -0.24                       -2.20%

20-Day                   10.42                      +0.64                      +6.39%   

50-Day                   11.30                      -4.41                       -29.26%

100-Day                 11.61                      -1.22                       -10.27%

200-Day                 12.65                      -1.36                       -11.31% 

Year-to-Date         11.61                      -3.38       –               24.07%

Daily Technical Indicators