VIX bounes on 6 week volume low

The Qs gave up some ground today, bouncing off the overbought 50 DSMA and doing so on the lowest volume in 6 weeks. 6% of the Qs total daily volume traded (down) in the last 10 minutes of the day and the selling can be expected to carry over into Tuesday.

As expected, the VIX retreated from the oversold lower band and rose almost 10% to close just off the daily high at 22.72 as it continues a move back to the 10DSMA.

The last 90 minutes of the market was decidedly negative with special virulence reserved for the last 15 minutes, punctuated with a closing TICK of -150 and a NYAD of .39.