The vix.x has plunged from it’s recent historic high near 89.53 and most likely is regressing to the mean. We cannot expect 100 point + days everyday, any more than we could expect 8 point days to last forever when the vix traded at 9.39 in 2006.
It appears that today the market decided to wait for the election before doing anything drastic.
It was a lackluster inside day that had a few shorts thinking we would test the 50 area, but when all was said and done, Friday afternoon’s 55 support held up.
The first trading day of Novemeber had less than 25 points range for the dayÂ and caught some over traders off guard.
The over night high held inside Friday’s high, so fibo traders get your calculators out.