Except that the 40 he is looking for may take two years to get there, just as the 2002 40 reading took two years from the May 2000 major ramp. The real question is whether the fact that we may have a trend change in the Vix signals that the highs have been seen or not. I believe that the highs will be seen with the Vix not making a new low, and that should be the signal (the divergence) that indeed that high is "the highs", that still fit the map of a major spring rally. I am actually quite happy to read everywhere the silence of the bulls, makes me feel better that once more I am in a minority (g).
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