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Have we reached peak fear in the SPX?

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quanttraderX  
NASDAQ:TVIX   None
Trend Analysis
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3
trendanalysis
Since the 19th of March the volatility index VIX has continued to decline while the S&P500 has not formed a new low since 23rd March.
At the same time, we have a divergence on the #RSI indicator.

We should see the S&P500 bounce back short-term to the 2,800 level (50% fib retracement level) before selling off again.
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