SPX VOLATILITY INDEX TAKES A POP TO THE UPSIDE

The Volatility Index takes a break to the upside on the 4 hour charts. This may signal a short term retreat for the SPX in the short term. The VIX has been on a downtrend since the 16th of April when the SPX broke out to the upside and remained on an uptrend for the next 5 months. Traders may want to take a break from the superb run and see how the index develops in September. October has traditionally been a terrible month for the US indices historically. Let's see if this year plays out in the same way.