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To: NOW who wrote (45197)	2/4/2013 5:03:30 AM
From: GROUND ZERO™	Read Replies (1) \| Respond to of 220651

No, the time period you referenced puts the VIX up between 32 and 48, it's definitely NOT anywhere near its lows... maybe you completely missed the point of the chart... when the market is making new highs for a rally and the VIX is down near its lows but did not make a new low, that's the divergence... the time frame you referenced puts the SP at their lows and the VIX near their highs... you have it completely backwards, reversed, and upside down... Take another good look, the VIX is the top chart, SP is the bottom chart... in your referenced time frame of Sept and Oct 2011, where is the VIX/SP divergence with the VIX not quite at the lows and the SP at highs? TIA GZ