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While the VIX continues to be firm, the end of day ‘buy everything order’ did push the VIX low enough that we had a settlement below 27.
In fact, shockingly, the VIX is now at the lowest level since February 24th.
The new low while encouraging does not change the fact that the S&P 500 continues to roar higher.
The VIX though is still pretty darn firm.
I think that is still a huge red flag, although with VIX getting hit today, that flag is slightly less huge.
In addition to VIX strength, one of my ‘anecdotal beacons’ is starting to go off.
I am hearing people start to talk about getting back into the market whole hog.
When people start to get excited about investing, I start to get nervous.
Add that to the firm VIX and I become more convinced we have a 5% move the other way lining up.
That said, in the immediate, we are going to go up, until someone or something stops it.
The VIX Traffic Light is Red.
Your Only Option,
PS – Volatility is the only way to play a “bleeding market” because owning the underlying doesn’t have enough juice and options can decay too fast. We are nailing our winners because I know EXACTLY how to play this market. As a heads up, I’m shutting this down at the end of the week so get in before the next trade that throws off another quick 30% gain!