Take a look at the chart of the VXX, which is the volatility index or commonly known as the FEAR index.
What? I should buy stocks now?
The SPX has run 8% in 10 business days in September after a week where volume was the 3rd lowest of the year behind Christmas and Thanksgiving here in the States.
On top of that we see no good looking long side set ups to be had unless you like chasing buses and don’t mind buying extended stocks.
And finally, we have 6 outstanding set-ups on the short side setting up.
With the VXX it’s no wonder we are seeing more and more short sells setting up contrary to what the indexes are showing. This is how it works when you use the VXX as a guide.
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