This week's VDX updates show little reason for bullish optimism. XLU continues to climb in price well beyond upper resistance but the VDX shows it is weakening on a buying/selling basic. TLT continues to holds its ground .....again far stronger than the majority of market gurus predicted at this year's onset. We'll run an M11 study of bond ETFs on Monday an attempt to find a trading edge in the fixed income sector.
Note that I have not included volatility bands for the VIX, which can often range 5-10-15% in a single day and which may or not be correlated with price volatility in the SPY