VIX Closes Above 20

The S&P 500 Volatility Index ($VIX) was up for the 5th time in 6 sessions after popping to an intraday high of 24.81. Early May and lower resistance at 22-22.50 was breached and failed to hold. A close above the 25 level and the would be an ongoing bearish signal with risk towards 26-27.50 and December 2018 resistance.

Rising support at 23.50-23 following the close above the 22.50 level. A recovery of 20-19.50 would signal some relief from the recent selling pressure.

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