PONZO Updates....08.16.16

This week's PONZO Updates are significant in the new views of SPY and TLT.  SPY has lost it's can't lose bullidh trajectory and TLT has lost is wild outlier scenarios.  Meanwhile the VIX forecast remains essentially the same as last week......muted and narrow range. Today's low volume breakdown may be harbinger of things to come as these pullbacks typically last 3 days+/- OR, if we see buyers stepping in tomorrow on increasing volume the odds are we're likely to hit that SPY 225 target despite the historical weakness in August and September.