If History is any guide then we do NOT have reached the readings of a "normal" correction yet and this one week before the OPEX (Option Expiration) with a fairly bearish positioning in the Equity Options market (not shown here).
We could see a bounce but bear in mind that we have a cluster of TCS's (TimeCycles) set up around the OPEX with a bearish Equity Options set up. Chances are we could see the VIX_OSC hit or cut through the target area....or we at least want to be open to that possibility.....
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