It is time to check the ratio SPX/VIX values, which appear currently at the critical level of 160+, which served in the past (2007 peak) as an early warning of the approaching top (in contrast, the 2000 peak followed an 80+ ratio). A consistent long term low may be defined by 18, whereas "mild" corrections can be expected within a ratio range of 80 to 160 approximately.
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