CBOE:VIX   Volatility S&P 500 Index
VIX , volatility index price action is currently staying and retesting the previous low at 13.30-13.50 level, this is also the lower deviation Bollinger Band . Such price action is indicative of the increased complacency of market participants, possibly encouraged by the recent action taken by central banks to prop the market and provide additional liquidity. The prevailing trend is clearly defined and picking tops is always a dangerous strategy, however current low levels in VIX are potentially the reason to exercise caution when picking Long set-ups calling for high probability set-ups only. Current support on the downside is located at 13.30, alternatively resistance on the upside is located at 15.69 followed by 16.04 which is 50 period SMA .


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