The SPX:VIX ratio lost the 68 level at 9:31 AM indicating a major market sell-off. Well, that lasted for 8 minutes since the ratio jumped back above 68 at 9:39 AM, negating the large sell-off projection.
The day remains young, however, so use the ratio as a guide for the remainder of the day. If the ratio loses 68, the broad markets will sell off large, triple digits on the Dow Industrials.
Checking it now, SPX:VIX is at 71.30, three bucks above the signal of danger and market price collapse. Market bulls obviously want the ratio to stay above 68, market bears want it to fall down thru 68. Watch it like a hawk.
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