VIX (SPX Volatility Index) is Very Near an Extreme of Complacency, see the second Weekly View chart at http://stockcharts.com/charts/gallery.html?s=vix.
In April 2010, when SPX (S & P 500, http://bit.ly/i0nsT) peaked at 1219.80 on 4-26-10 (SPX recently exceeded that cycle high), then crashed to 1010.91 on 7-1-10, VIX hit an extreme of complacency at 15.23. On Friday 12-17-10 VIX hit an extremely complacent level of 15.46, which is an ominous bearish sign for SPX (S & P 500, http://bit.ly/i0nsT)/the Market.
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