The #VIX to SPX correlation is the highest it has been since we had the month-long decline in May. Today’s correlation is -.18. As a point of reference, the correlation hit the zero line a day or 2 before the onset of the May decline. Conversely, the correlation pretty much bounces between -.75 and the -1.00 floor during rallies. As with all indicators, it doesn’t have a perfect track record either. But I’m getting cautious and increasing my cash position.