MacDee
Short

SnP500 bearish divergence

VXV/VIX  
VXV/VIX  
198 0 0
By the solid blue line represented S&P500             shows lower low and lower high in April .
Relation of VXV             ( CBOE             S&P500             3-M Volatlity) and VIX             ( CBOE             Volatlity) - candle chart - gives us information about the VIX             term structure (VXV/VIX>1 => contango, VXV/VIX<1 backwardation). The lower the number, the higher the possibility of correction within 3Mo (by exhausting) according to the option community. The blue and green lines are the MA(50) and MA(20) respectively.
S&P500             achieved new hihgs by the begin of April (see interrupted blue line on the top of S&P500             ) while both MA's ware falling.
The MACD , built on the VXV/VIX, shows bearish divergence also. This MACD is very far from the underlying market and wouldn't have any relevance alone. A reinforcing/confirming supplement to the other signs.
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