The VIX closed below the lower Bollinger Band for the second day in a row. This is a pretty rare thing. I went back to 1996 to see the largest amount of days the VIX closed below the lower BB and only once did it close below the lower BB three days in a row. That means we should be very close to a top in the S&P 500.The chart below shows my favorite count in regards to the VIX. As can been seen an ending diagonal has been seen since May 2010 and the break below the supportline shows that the decline is close to exhaustion, confirming the BB signal.
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