A BULL MARKET IN COMPLACENCY – PART II
-- SOURCE: 10-07-17 StockBoardAsset --
As shown on the 24-year monthly ratio chart below, bulls have pushed the SPY:VIX price into uncharted territory this year. The REAL test for sustained market euphoria is now occurring, as the ratio probes a two decade ascending diagonal (red) line responsible for past market tops. After 8-9 years of a central bank induced bull market, and pushing +2803% gains from lows, investors are making the fatal decision to get back in, as the final stages are here explained in the ratio.
-- SOURCE: 10-08-17 ZeroHedge
On a reward-to-risk basis, investors have not been this 'offside' since 1994...
And remember VIX speculators have never been more short...
And, uncertainty about VIX (VVIX) has never been higher relative to the uber-complacent level of VIX...
