Safe havens

Sum
VIX and XIV remain the most reliable safe haven tells and they are both comfortably all systems go for stocks. 

Bonds are clearly the weak link in asset classes with TLT, AGG and LQD below 3 of 4 pivots (all above YPs, below the others). HYG weaker in Q4 but zoomed above all pivots on 1/3.

Metals also strong with GLD, GDX and SLV all above all pivots, partially reflecting DXY weakness; but GLD some toppy reaction from Q1R1 so far. 

VIX
VIX D: All systems go for risk with VIX below Q1P and JanP cluster 11.39-50 then YP and 1HP both 12.29.

XIV
XIV D: Well above all pivots, but not yet at Q1R1 or JanR1.

7 21 XIV D.png

TLT
D: Below 1HP, Q1P and JanP; above YP.

AGG
Still holding on to YP, but below the others. 

7 23 AGG D.png

LQD
Below 3 pivots, but well above YP.

HYG
Helped confirm risk on with jum pabove YP, 1HP and Q1P on 1/3. 
 

7 25 HYG D.png

GLD
Jumped above all pivots late in Q4; so far move stopped at Q1R1.

7 26 GLD D.png

GDX
Also above all pivots, not yet at resistance.

7 27 GDX D.png

SLV
Above all pivots.