The fear gauge is still very high on a historical basis. Readings lower than current called the mid06 and early 07 capitulation lows. I use VIX as my second tier major swing timer. Only really two or three ways to identify major index U turns. Ideal when the ducks on level 1&2 line up. Could even see a reading out near 40 before a bottom is in. More concerning this week is some seriously credentialled market timers with proven track records calling for a 29 style collapse.
CMR Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
