2019: US stocks to make new highs when VIX stablises

We said:

Equities are still on their way to a full recovery. After an initial wobble, stocks (in the US and elsewhere) have quickly stabilised and started to recover. The VIX, which spiked to nearly 18 on Monday, has fallen back below 14. As we’ve pointed out repeatedly, a VIX below 15 is a strong indication that equites remain on a path of full recovery and are likely to make new highs.

Outcome:

VIX fell back to the 12-13 range and the S&P 500 hit a new all-time high on 23rd April. 

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