Lets start off with the VIX.
We can see above a few things:
VIX is threatening new lows
The VIX chart is no longer trending upwards
We failed to make new highs in VIX but new lows in SPX.
Let's think above the three above. Typically, cheaper vol gets cheaper. I know that I was wrong in June thinking that "this was it, the lows are in". I find it hard to beli…