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The other forward indicator, VIX (broad market volatility) went up to 79 only when the market went down sharply this morning. It did not reach 85 as it did when DOW dropped to 8000 points two weeks ago. VIX should be at least 90 if the market is extremely bearish at this point in the morning. This could be an indicator that the market is really seeing its bottom today.
Let's see whether VIX will lead the market up and away.