SPX ~6000 if this time is not different
The SPX chart has 2 goals and one constraint:
- Demonstrate the VIX / VVIX ratio as an inverse momentum indicator for SPX. The VIX is risk adjusted" by VVIX and the ratio is more useful than VIX alone. "Useful" is similar to 'Statistical Power' and means less data required to identify smaller changes amidst higher volatility.
- Suggest that an ATH of SPX 6000 is "not unreasonable" considering the pattern and magnitude of prior large moves (corrections, bear markets, and very large dips)
- . . . Unless this time is different.
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