Tuesday, June 28, 2016

PONZO Updates..06.28.16

Turnaround Tuesday produced a 1% reversal to the upside for equities but its early in the day (2 hours in) and the markets have been selling down since the open so where we close is anyone's guess.
The PONZO updates show that we've hit the outlier scenarios and are now most likely to flat line for the near term.  The VIX in particular looks like the downside is the best odds and today's 17% retreat may signal a movement back down to the 12-14 levels.