I don't see how these two are related. The Vix is at much lower levels than it was in 1999 for some time, and we have not raken the highs of that time by a long shot. As I said the value is not the point, but hange in direction. You are going to see BP failing to make new highs when the indices do, that will be the divergnce that you want to watch (and thus my suggestion of a topping process in the summer, when most BP fail to take back their 200 DMA).
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