$SPX & $VIX

The $VIX is up over 30 today & flirting with it's 50ma & $SPX finding support @ it's 200-ma. Now everyone assumes a higher $VIX indicates a lower $SPX, yes & no! It really means more volatility or a bigger move up & down as should be since on the $SPX the Head & Shoulders pattern now looks more evident. Albeit an intraday look it has broken below it's "neckline". Again as I've made my observations last week, expect 825 to be tested on the $SPX. One other note, what isn't seen in the $VIX are those buyers of stocks & writing covered calls, just wanted to get that in.
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