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This is a long term, daily chart of the VIX compared to the S&P 500.
First ... focus on the second (higher) VIX fan line for a moment. That is where we have a breach above the fan's resistance line.
At the same time, the S&P 500 reached and tested its second resistance level at 1156.40 on Thursday.
On Friday, the S&P pulled back to 1146.24 so, watch the 1156.40 level this week because it is an important test for the S&P 500.
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