Regarding the Sell in May jitters...it turns out that May weakness doesn't typically kick in until the second half of the month which then carries over to the downside in June. That's the way Traders Almanac reports on the May sell, but then past performance is no guarantee of future returns.
Nevertheless hedge funds are selling and market gurus are struggling to make sense of recent VIX behavior. CNBC is not a venue I frequent, but I've met Bob Pisani a couple times and talked with him about the markets and I've always found him to be genuine and very astute so I pay attention when he offers his opinions.
There's a new, extensive post of MVP studies on M3 Insight, hope you find it interesting.
Next week we'll turn the MVP upside down and use it to predict short setups.
In the meantime here are the latest VDX studies....looking neutral, which means there's likely a break in the near future (up or down remains to be seen). It looks like bullish odds, but we've been fooled badly before and the PONZO short term forecast is bearish..