CHART OF THE DAY: Strap Your Seatbelts On | $VIX

Editor's Note: This is a brief excerpt and chart from today's morning strategy note written by Hedgeye CEO Keith McCullough. Click here to learn more about how you can subscribe.  

CHART OF THE DAY: Strap Your Seatbelts On | $VIX - zz 06.30.15 chart

...If you thought US stock market volatility and/or 2% down days were going away, you probably weren’t setup for an alpha generating day yesterday. To put that -2.1% drop in the SP500 in context:

    1. It was the 1st > 2% down day since October 9th, 2014
    2. There have only been 5 down days of > 2% in the last 2 years
    3. There were 20 > 2% down days in the JUN-DEC period of 2011