[sourcery]

The VIX has been trending down at a fairly steady rate the last week or two. I don't understand how one can read a one-day uptick in the VIX as signalling a "resumption of the bear's ferocity." Then again, when it comes to reading the VIX, I'm a neophyte.

My comment on the VIX was referring to it its steady decline towards 25, not its one day uptick (which was to be expected on a down-tick in the market).

The market action so far today is not surprising, given the favorable seasonality, and also given the fact that markets never move in only one direction to wherever they're going.

[eastsider]

My comment on the VIX was referring to it its steady decline towards 25 ...

This is the one-year chart for VIX. At present, it's below the late-August low (slightly above 30), but well above the late May low (around 20). Why do you look at 25 to signal the end of this bear-market rally?

Thanks, and have a Happy Thanksgiving!