The best indicator for tops and bottoms, except of course in a trending up market, is the vix. Below 12 and sell, sell, sell.
We are at 12.3.
Last, buying when the vix gets over 22 in a normal correction, would have made you a ton of money the past 9 years. But it gets to 35 often in major corrections, and even to 45, last time in 2011.
bottom line: forming a top, but could not be final top until january, or with bad news, could be next week. The fed is going to start tightening, and keep doing that until is obvious time to stop, or as usual, after was time to stop. That is not good for the market.
