Why are we near ATHs whilst the vix is perched at such dangerous levels? Do my circles indicate potential enormous risk ahead? We shall see.
Comment:
The vix dropped lower than I expected. However, an extreme market bearish turnaround case could still exist and start as early as Friday, likely after a final exhuberent blow off top that will be attributed to the jobs report.
to the 13s should've marked a big top, and we should see a wild rise in vix in the days (or weeks) ahead. If a secondary top plays out instead, then the big top might arrive around July 12th.