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Play Editor's Note: I mention the Volatility Index (VIX) quite a few times in my updates today. Readers need to know that the VIX tends to signal a market bottom when it hits a reading near 30. The VIX surged past 30 to close at 31.70. This is telling us that stocks could be very close to a bottom. However, that doesn't mean that stocks can't go lower and the VIX can't spike higher because they can. Don't try to pick the very bottom. Just be ready for a bounce.

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