The VIX/VXV Ratio. This is a new indicator which I found while reading HeadlineCharts Blog based on some work done by the Vix and More Blog Spot. As usual on my charts I have marked the times to start thinking about being bullish with a blue then green horizontal line. When is it time to bail or go short? Well that is marked by the pink and then red horizontal line versus the 1 day sma. It's pretty simple and may be a great short term market timing indicator for turns based on what I see here versus the SPX shown with a histogram and the SMH using a simple line in orange behind the price performance.