While the major indices finished Thursday with mixed moderate moves, the VIX jumped quite a bit higher. It finished 6.7% above Wednesday’s close. It’s very unusual to see the VIX spike up on a day the SPX also closes higher. This is especially true on a day other than Monday, since Mondays show a tendency for a rising VIX. The study below addresses this.
Instances are a little low but appear overwhelmingly bullish.