On July 11 and July 12 both the S&P 500 and VIX rose on the day. This brought out an old blog I wrote in 2013 discussing what the stock market has historically done when both the S&P 500 and VIX rise two days in a row. I updated the numbers from that last study and now we have 92 occurrences where both indexes rose two days in a row (today was number 93 and the jury is still out on the subsequent market action. The table below summarizes what the S&P 500 did on average the following five trading days. Note the percentage times the market was lower is right around the 50 / 50 range, but on average the market is lower after two consecutive SPX / VIX up days. I have on my to do list next week to circle back and see how the 93rd time turned out.