The sp' hits a new high of 1555, with the VIX in the 11.70s. There is no sign of a turn. Yes, the weekly and monthly index charts are arguably kinda close to the limit, but there is no reason to think the bears have any hope of downside this week.
vix'weekly'3 - 10yr, rainbow
We've not seen these VIX levels since the first half of 2007.
Single digit VIX is viable at any point on a brief short-term capitulation spike.
The ultra bullish outlook would very much be seeking VIX in the 9s this summer.
After all, whats to fear..the Bernanke is printing 85bn a month!
*big POMO this Thur/Friday. Bears need to stay well clear of this nonsense!