For several sessions, the level of the Vix has risen to 25 from 14 throughout July. Over the last five days, variations can reach more than 15% for some stocks, such as NetEase, AMD or JD.COM.
Graphically, in daily data, there is a discrepancy between the short averages that are on a downward trend and the long moving averages, which are always positive. The blocking under 7740 points twice validates the relevance of the area. A fence beyond this upper limit will be required to eliminate the major downside risks. On the other hand, under this resistance, the objective of returning to 7300 remains accessible.