Not Pretty

Sometimes it is good to look at the markets with the simplest charts.

SPX reversed at the same levels we sold off from during the past 6 months. Watch the 200 day carefully as it is somewhat of an “equilibrium” level.

VIX has been hated for such a long time. Positioning is once again showing the crowd is short the VIX. It is therefore interesting to see VIX take such a move higher, without any real news having hit the tapes.

Since the October sell off, pretty much every crowded trade has been washed out, and it looks once again like the crowd is caught wrong.

Source; charts by Bloomberg