1pm update - VIX is not confirming the declines

Whilst US equities are breaking new lows, the most notable aspect remains the VIX, which has almost entirely failed to confirm the equity weakness. VIX is +4%... but should really be +15% or so, as based on the past few years... VIX is warning we're close to a floor.


sp'60min

VIX'60min

Summary

Were the VIX in the 18/19s today, I'd be open to continued downside, but right now, VIX is suggesting these equity declines are not the start of something major.
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As noted earlier... I will reassess around the typical turn time of 2.30pm... maybe we'll see a more secure floor by then.


1.18pm.. Hmmmmm.. sp'1950... but the VIX only 4.6%....

Its a damn tricky situation right now.... VIX is just not confirming things.


1.33pm... sp'1949...  hmm....

Lets be clear... much lower to 1920/00 zone.. and a large H/S scenario will viable... but more on that later.