Banking Index Squeezed Into Corner, Yen Advances

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VIX rallied to challenge the weekly Cycle top before closing beneath Long-term support/resistance at 16.36. The Cycles Model suggests Cyclical strength may dominate through mid-May, possibly longer.

(MarketWatch) A spike in Wall Street’s most popular volatility gauge is inspiring some unpleasant déjà vu for stock-market traders, though there is no guarantee the move presages a sharper equity selloff.

The Cboe Volatility Index VIX, -16.02% known by its ticker, VIX, jumped 6.45 points over the first two days of this week — the largest two-day rise since the period ending on Dec. 24, according to Dow Jones Data Group, when it climbed by more than seven points as a stock-market selloff accelerated, taking the S&P 500 SPX, +0.37% to the brink of bear-market territory and marking the lowest point of the fourth-quarter downturn.

SPX challenges Short-term support

Read more at : https://www.investing.com/analysis/get-out-the-popcorn-200420505

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