When the RSI on the VIX Index trades at a reading of 38 or below (note it has never registered a weekly oversold reading of below 30), the S&P 500 embarks on a rally against an economic backdrop of trying or testing conditions or headwinds. This climb up a ‘wall of worry’ tends to exhaust itself when the RSI registers a  … Continue reading The oversold VIX and how the SPX grinds higher