Buy Idea: S&P 500 Volatility Index (VIX)VOLATILITY S&P 500TVC:VIXGlobal_ChartsKey Drivers: The surge in US (and global) bond yields has not been a problem for equities however, intervention by the officials may raise cause for concern. Our technical screeners (using ETFs) reflect an extreme lack of oversold instruments and a vast number of overbought instruments S&P 500 Index +38% above it's 200-week SMA (2nd highest reading since the year 2000). In addition, a bearish distance divergence is present. 72% of S&P 500 shares trade above their 200-day simple moving averages. While this is healthy, this is at the upper boundary of a 5-year range. Volatility seasonality - nearing a period (measured over 20 years of data) where the VIX has shown historical elevation. Buy at current levels (15.15) or lower Stop-loss: 12.20 Target: 20.00