Below looks at the VIX (Fear Level) over the past few years. A rally had taken place in the VIX, driving it up to falling resistance and its 50% retracement level at (1), in the chart below.


We shared the chart above last week on Twitter last week (See Here)  One of the reasons Premium and Sector members bought XIV, was due to this pattern and a seasonal pattern in stocks (strong the last two weeks of April). The VIX index is down nearly 40% in the past week, following hitting resistance at (1). Members this morning are pulling up stops to protect gains.


How The Recent Decline In Stocks Looks "Eerily" Like Major Bear Markets Of The Past