30 May 2023
Time will tell if this most recent sell signal will also prove effective in this way. It’s interesting to note, however, that it also culminated in an even more rare signal on Friday when both the NDX and VXN rose more than 2% on the day (last seen on 2/2). This is a pretty strong indication that the options market is not nearly as sanguine as the equities market at this stage of the rally. And that in itself may be an important development to pay attention to.