The real time M3 SPY Trader has given XIV a neutral reading for the first time in 2 weeks. As of the close today M3 with a #1 ranking has gone to cash.
Coupled with recent abnormal acceleration in XIV versus SPY the argument can be made that from a risk/reward standpoint cash may be warranted at this point.
The current signal by M3 does not necessarily mean SPY's run is over, but that the proportionately greater returns that have been derived from recent uber bullishness in XIV should be locked in now.
VIX is now at a 52 week low and given seasonal considerations and the end of the month cusp trade expiring on Monday the decision to close XIV is strictly an odds decision.
BTW...some subscribers have received emails today apparently sent from ETFMosaic...these are phishing mails sent by hackers using parts of this address as a cover. Authentic emails from ETF Mosaic will always contain "M3" in the subject line.