Episode Synopsis "April 4, 2015"
Matt and Alex discuss the continued buildup of commercial longs in VIX volatility futures and the likely implications for the stock market. Matt and Alex then discuss currency markets. At 5:30, Matt indicates that commercial banks are now net long 67K VIX futures – which continues to foreshadow a near-term (4-6 week) rise in volatility, and thus a drop in the stock market. At 10:50, Matt states that he believes the Euro and British Pound either touched a major bottom or came very close. In addition, Matt states the US Dollar Index may have already topped. At 16:00, Matt states that after re-examining his charts, he believes oil may still be holding above support, however he suggest a new low would convincingly break support and would likely lead to prices in the low $30s.