VIX Down Trend---Bullish

I'm seeing the hourly rally in the VIX which is what you'd expect with the decline we've seen, but the VIX daily is in a solid down trend. That implies that this decline will be bought.

But if rates continue moving higher...

My Stockcharts AAII is delayed a day. Today I see that...

In recent months, there are about 5 readings equally bearish; and all were at SPX bottoms.

In fact that early August selling was preceded the week before by high bullishness.

Those 2 weeks of a high followed by a low almost perfectly mirror this weeks bearishness preceded by high bullishness.

Of course we all know that sentiment is useless.

Too much information here:

https://themacrobutl...y-tsunami-meets

"...the FED and Treasury's efforts to reduce volatility in the bond market are critical for overall financial stability, far more significant than monitoring the VIX Index."

"In a nutshell, central planners, particularly the Treasury, are distorting price signals in the bond market to lure investors into a forward illusion narrative that they have accomplished their mission in the fight against inflation..."

"...any spikes in the MOVE Index could unsettle these hedge funds and create a precarious situation for financial markets."

"...the US economy is on the verge of shifting from an inflationary boom to an inflationary bust."

"Long dated US Treasuries are an ‘un-investable return-less' asset class which have also lost their rationale for being part of a diversified portfolio."

"The prospect of a ‘buy the rumour, sell the news’ event looms...investors should prepare for heightened volatility that could potentially drive equity markets back to, or even below, their August 5th lows post-election."

A little longer view.  A reversal might be imminent - but which trend is now in control?

FWIW, My VIX trend indicators are pointing mostly up on the Daily and still down on the hourly.