In my last webinar, on May 9th, I talked about VIX/VXO/VXN complex trading below 30. But as you recall, I talked about not the absolute level of this complex, but rather, its relative level (in Sigma Levels).
As you can see from the chart below, today, we broke 30 on VXO but we did NOT get to trade at -3 Sigma Level. That level now stands at 26. That is our next goal post. A bounce from 26 should mark a short-term "maxima" in prices for this leg.
More on this and other Mark Timing Tools, this Saturday in my webinar.