Excerpt from Bloomberg quoting DataTrek’s Nick Colas:

…. “The Cboe Volatility Index, also known as the VIX, closed at the fourth-highest level ever recorded. The gauge has never hit such an extreme point without the S&P 500 “immediately and sharply” bouncing by more than 10% over the next day or two, according to Nicholas Colas, co-founder of DataTrek Research.

“That needs to happen either Friday or Monday, or we are truly in uncharted waters,” Colas wrote in a note”….

Read the full article here on Bloomberg!