For the first time since mid-August, the VIX has been smashed down into the teens.
Over the past year, this seems to happen with some regularity. This is the 4th instance.
To see how closely-correlated stocks are with the VIX (inverted), I whipped out the ol’ layered charts. Below is the VIX (upside-down) placed right on top of the SPY. As you can see, they are joined at the hip, although for some reason the spread has become much more substantial lately.
Thus, here we are, beaten down into the teens. 2023 is off to a lousy start for the bears, and my peak portfolio value is still way back on June 16th of last year. Hey, market gods, I can’t take much more of this!
