The VIX Will Eat the Market Up

The chart below is the S&P 500 and the VIX with 50-1 Bollinger Band settings, which was shown to me by Tom McClellan. When the VIX is above it upper Bollinger Band (like it is now), the market gets pretty ugly. I have highlighted examples in past when the VIX is above its Upper Bollinger band. The bears are clearly in charge here, additional they have successfully carried out the gameplan I discussed on Sunday.