June 25 VIX Point & Figure Reversal

Looks like I went for the fake.  The relatively high VIX readings on June 20 spooked me into standing aside to see which way the market was going.  So far, it looks like a normal bounce, rather than a 'correction.'  On June 25, the Point & Figure chart for the VIX signaled a downward move, indicating reduced fear.

Larry McMillan, one of my favorite pundits, is making more bullish sounds, "In summary, it seems almost certain that the indicators will turn bullish, because the put-call ratio signals are generally so dominant. However, their signals can be early, so we would not declare that the intermediate-term bullish trend has resumed, unless $SPX closed above resistance at 1630."

With half the trading day gone, the early gains are fading, but the S&P500 is holding above 1630 at around 1638.

I remain short the AUD/USD and have not yet re-entered the stock market.