Interesting pattern has developed over the past few days. The S&P500 spikes higher and yet the VIX remains elevated. The S&P then rolls over later in the day.
Could be the triple witch, but we’ll play it as non-confirmation of the rally and use it as a short-term sell signal. Also note that Apple is trading poorly, which has become our proxy for hedge firm risk appetite.
Could be wrong and always with a stop. Let’s see how things close.
(click here if chart is not observable)