The S&P 500 Volatility Index ($VIX) surged in May and broke above its January-February high. After a pullback, the index found support near broken resistance and bounced the last few days. Also notice that the S&P 500 hit resistance near broken support.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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