SPX S&P 500 and VIX Volatility 30-Minute Charts

This is interesting. The S&P 500 makes lower lows. Thus, the VIX should make corresponding higher highs as the thin red line shows. Instead, volatility moves lower as stocks move lower. This hints that the downside move may be running out of gas.

The falling wedge pattern is bullish for the S&P 500 in this 30-minute time frame. Price may poke around in the apex of that wedge before it resolves higher.

The key in the Friday trade is the SPX 150-day MA at 2580. This is where the battle is occurring. Market bulls win big above 2581. Market bears win big below 2579. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.

Note Added Saturday Morning, 2/10/18: Another wild day occurs on Wall Street with crazy swings lower and higher due to the elevated volatility. The VIX ran up to 41.06 and closed at 29.06 under 30. The high did not overcome the prior highs.