With the markets unable to feature intraday volatility of more than 1% for months now, it was nice to see a truly out of balance market with an explosion in volatility.
With this huge move down, the markets could very well be kicking off a substantial downtrend. And with volatility up that will mean higher opportunity for daytrading. And then of course, at some point some juicy short covering rallies.
It was interesting to have seen the market gap down so far on Sunday evening, only to short cover into today's session open. And then forcefully grind down back to the gap downloads. A beautiful two-way auction example.
Pop goes VIX
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