VDX updates this week have SPY neutral with a recent VDI +/- crossover, VIX somewhat above neutral and TLT in a much more precarious oversold position than only 2 days ago (see Thursday's post). Most of the talking heads are spouting odds of 100% for FED rate hike next week as well as pointing to various ominous technical indicators portending an imminent pullback of indeterminate length and strength. This week we saw the advance/decline deteriorate for the first time in 3 months
Trader's Outlook is equally ambivalent about prospects next week and I indicated last week the failure of many of the technical indicators that I monitor to provide clear signals going forward has driven me to a now 95% cash position for the sake of safety and sanity.
