Relative Comparison Chart
Black Line - SPX
Red Line - SPX/VIX
It appears that tops are marked by the "SPX/VIX" line gapping up from the "SPX", usually after the SPX retests its highs, and bottoms are marked by the "SPX/VIX" gapping down from the "SPX". During the last 2 tests of the bottom, the red line did not penetrate down, so these bottoms don't appear valid. It appears that the current gap is every bit as significant as the prior March & May 2002 gaps!
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