I am a little bit surprised the the market has shown no willingness to follow through on Friday’s rally off the the lows. So far today it has simply been a steady decrease in price across all the indices and stocks in general.
In fact the decliners are holding a 3:1 advantage over the advancers, which is something I have not seen in quite some time!
So I studied the VIX for a while today, and what stuck out to me is where we are bouncing at. We are bouncing hard on the VIX at the same placed we bounced at back in August of last year that ultimately resulted in the massive sell-off in equities during August and September.
And this trend-line is strong too, people. It goes all the way back to July of 2014. So be careful out there.
Here’s the analysis:
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