1. SP500-Vix overlay, in relation to the current rally dynamic (starting on March 2009)
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhpIN7QI4F1al_HDNpxrbE-73GQladlB9CT34bHh0sxDF3KaFtzPEkCCcgy1H3nhvpUPTbnPcGq8EFHHEenIC1mULx-P7vG2CMsG1zo5VPyYqggfoq_vVeGe6bowYkyzkoOAbsnkAKK3KM/s400/sc.png)
There is more complacency to go. The market's trading dynamic says so.
(Also, the VIX chart is not oversold, and does not suggest a spike. At least not yet.)
2. The 10yr chart. Does this chart look like the bond market is punishing or that US GDP is entering a growth of higher than 2-3%?
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjGcCtFI1YWzg_P7LqXw1DOx9NcVYU3XgsGOe9PjXdRYCpymXwrnVD6vHqnXwsVHCucVcjHl8mXXTFkem1Cin0v5bzXaPXAohoJlLSkvyZ8b5DBTU812uYxazKIk0b6LmTCoSjK_rYpDLI/s400/sc-1.png)
If I am wrong, so be it. But I will not hesitate to add on a decline that place sooner then my thesis indicates.
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