Is the Low VIX.X Signalling a Market Top? 031212

The VIX.X shot down to a low of 15.23 today.  The last time it was this low was last July 2011.  The low for the VIX.X last year was 14.27.  I was thinking of buying TVIX today, but with an inside day on the SPX, it’s not the most conservative option.

XIV daily is up at the last pivot high area, and the 200dma.  We’re close to some short-term topping action possibly.

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