TECHNICALS

Today on the realmoney site, Cody Willard, a trader also known by other names (trimmer/nibbler) makes the following keen observation " I think the VIX is yet another mostly worthless, noisy indicator that most investors/traders should simply ignore." I wonder if our trimming nibbling friend would be saying something different if he saw the 2 charts lined up as they are above? Also, note the turnaround interday day on the VIX and the SPY. The 2 day RSI on the SPY is 10 and the VIX hit the 110% above the 10 day SMA during the day today. Lets see how these indicators play out over the next few days.