🏆 Today's Chart of the Day was shared by @DualityResearch.
- The Volatility Index ($VIX) closed more than -28% off its highs today, marking the 6th largest drop from an intraday peak since 1991.
- It opened higher by more than +12% this morning and nearly hit 29 before ending the day at 20.77. It fell -4.1% overall this week, avoiding what would've been a three-week winning streak.
- Duality also noted that the S&P 500 averaged a gain of +9.2% over the next three months when the $VIX fell more than -25% from its intraday high.
The Takeaway: The $VIX slid more than -28% from its intraday high today. When volatility unwinds this sharply, it often signals a short-term rebound for stocks.
