VIX nearing long term support
VIX has been bludgeoned incessantly since last summer. It is back into the 14’s and is hovering just above 5 year trendline support at the bottom of what appears to be a falling wedge. Boy, does this setup smell like a sell-off around the corner or what? Each of the last two years has seen the market top in the first week of May or so. I suspect we may be on course for something similar again this year.