by Chris McKhann
The VIX may break its losing streak today.
The volatility index sits at 20.54, up 2.6 percent on the day. This follows eight days of losses that have seen the VIX shed more than 20 percent of its value and comes with the S&P 500 up roughly 5 percent over the last two weeks.
The 20-day historical volatility of the SPX sits up at 19.80, still supporting this VIX level. But the 10-day level is down at 12.60 and, if that trend continues, we will see a VIX below 20 in the near future.
The VIX futures are at premiums. The March futures trade at 21.50, up 0.7 percent today. April futures trade at 23.60, down 0.42 percent.
(Chart courtesy of tradeMONSTER)