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To: John Madarasz who wrote (70523)	4/5/2003 8:39:28 AM
From: skinowski	Read Replies (1) \| Respond to of 209892

VIX in January through March traced out a triple top - which corresponded to lower lows in the market. Fear refusing to rise actually was a bullish divergence. I've noticed that happen in the past. (Also, check the same on a smaller scale last December). The VIX low last November didn't qualify for the "9 black candle" criterion, but it seems the "idea" is the same. Interesting. If the latest "red arrow reversal" in the VIX works out, that might be pretty bearish for prices.

To: John Madarasz who wrote (70523)	4/5/2003 2:14:46 PM
From: bcrafty	Read Replies (1) \| Respond to of 209892

John, there might be bad data somewhere Either the guy who did that chart has bad data or stockcharts has bad data. In the chart you posted it showed nine declining (black) VIX candles in a row last August, the beginning of January, and right now. But look at the stockcharts chart below and you see that is not the case, as there are no nine declining (red) candles in a row on their chart: stockcharts.com[h,a]daclyyay[dd][pb200!b50!f][vc60][iUb14!La12,26,9]&pref=G BTW, when you say that you believe there is "very limited downside" to the SPX, what floor you see for the rest of the month?