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$VIX +28% today. $SPY is only 2% off its high. 3rd time this year: Jan 20: VIX +27%. S&P a month later: +1.0% Jun 5: VIX +40%. S&P a month later +1.3% Oct 16: VIX +28%. S&P a month later? Since 1990, this has happened 15 other times. S&P was higher a month later in 11.

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