The VIX (CBOE VOLATILITY INDEX) has put in a very nice bottoming tail on the 60 minute chart. This tail was on heavy volume and could be signaling further upside to the VIX. Often the VIX rises when there is fear in the market or when traders want to hedge their long positions. In any case keep an eye on the VIX.

 

 

vix_11_11_09.bmp