Looking at the VIX – an index long frowned upon by bulls and bears alike after posting many a false signals-it’s worth examining the periodicity of its recent tops. The chart illustrates the last four meaningful peaks in the VIX occurred at 2-month intervals, starting in October. Nonetheless, each of those 4 rallies in the VIX corresponded to a decline of 3.4%-3.8% in the S in each.
