SPY:VIX topping out?

As Steveo77 noted yesterday, SPX:VIX may be giving us a signal here - is that a flying doji star? Divergences across the internals too.

Mac and Copper and that - diverging again

So there's a bit of divergence here from copper futes and the McClellan.



NY up/down volume ratio too:



And NYAD...



And the high/low ratio too...



But Mr VIX has not issued a sell signal yet, unlike the January top, which might suggest that any dip will be bought? Clearly, I am still eyeing the 76.4%/full moon time window in two weeks time when I say that.



However, a quick peek at 2007 says that maybe we shouldn't expect any cut-and-dried signals: