Correlations closed the week .34, low.

IV Realized volatility spread is 96th percentile, very high (all time against lower percentiles for 2020).

The longer the IV stays this high  the longer it is warning about a market selloff.

This has historically been bullish, on average on various timeframes.

While in the short term, it would not be surprising to see more volatility, the majority of the evidence points to intermediate term gains ahead.

Thanks and have a great week.