This is not a cry to long VIX by any means, but it seems we are off the lows having had the lowest implied volatility in the first quarter of 2017 EVER recorded. Realized volatility was the lowest in 40 years.
What is does tell us though is that the rally is fading, uncertainty growing, and the key level to watch is the fresh low set by the S&P500 week before last.
What is does tell us though is that the rally is fading, uncertainty growing, and the key level to watch is the fresh low set by the S&P500 week before last.