$XII is the institutional index, which I believe is the top 75 cap weighted stocks that are widely held by institutions. Foot uses this and i thought was good idea so i added to my big picture chart. I compare it to SPX to see if correlating or not. last 3-4 weeks it is falling in value compared to SPX. Maybe the selling off the FANG stocks is reason.
i hear you on shorting, main reason i have trade vetos to keep from shorting OB conditons common on a bull run. but some trade signals slipping thru.