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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: J.T. who wrote (10040)	1/31/2002 3:18:03 PM
From: Steve Lee	Read Replies (2) \| Respond to of 19219

"I have provided ample proof where the market was at low levels on the VIX (much lower than VIX 24 here)and the VIX continued to go significantly lower as the market melted up." It's not the absolute value of the VIX that is important. VIX is a measure of implied volatility which is a measure of complacency, and it is an increase or decrease in complacency that causes moves off tops and bottoms. The absolute value of the VIX was lower in previous years because there weren't so many private individuals trading off the internet. If we get your melt up, I will reconsider my thinking on this.