The vix has a corelation to the range of motion during the day.
The vix was 40 yeasterday and closed at 50, The vix would have a hard time getting over about 60 today, so for every point on the vix, the market can move 1 point on the SPX. The maximum the spx can move today is about 60 pts.
we opened at 890, moved to 900, That is 10 pts of motion.
From 900 we are now at 890 that is 10 more points. Meaning the motion left is no more than roughly 850 on the spx or so....
Friday, December 19, 2008
Volitility
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