The scary thing about the weekly chart of the VIX - which runs contrary to the broad stock market - is that it shows much more room to rise as indicators are nowhere near 'over bought', especially if resistance noted by the dotted line is surmounted. Sure, there can be a sharp bear market rally at any time, but the weekly chart smooths out a lot of the noise and says the bulls have more pain in store. Anecdotal evidence in my personal life reinforces the notion that Joe Public has not even come close to questioning his 'truths' born of the old secular bull market. A friend of mine, a very intelligent CPA claims you "can't time the market". "I disagree" says I... "and bear markets can drag on for inconveniently long periods of time". "I got time" says he. Anyway, da VIX weekly...
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