When USDJPY, WTI and TNX all plunge, stock prices almost always follow suit.  When they don’t, it’s usually because VIX is signaling the algos that there’s nothing to worry about.

It’s no surprise, then, that the three equity breakouts (the purple, gray and white channels) we’ve seen over the past month have all been precipitated by breakdowns in VIX.

It’s particularly common on weekends and during low-volume holiday weeks and is frequently contrary to the economic news of the day.

continued for members…

Note that our yield curve model is back in bearish mode, with the latest yellow TL breakdown.

This jibes with AAPL, which has finally reached the top of the proposed purple — an excellent place to start a backtest for the SMA200 at 188.94.   Though it conflicts with BA’s chart, which indicates another interim bottom.

Gold is proving remarkably resilient… …because DXY remains weak and is likely to get at least slightly weaker.

Oil and gas continue to look weak.

And, TNX is breaking down.