Below is a brief excerpt transcribed from Wednesday's edition of The Macro Show hosted by CEO Keith McCullough and Director of Research Daryl Jones.

McCullough: Fade Your Feelings → It's #Quad2 - 2.3.1

The “end of the world” folk are right. If we were to perpetually keep the VIX above trend, the world as you know it would end.

But it didn’t.

McCullough: Fade Your Feelings → It's #Quad2 - 2.2.2

So we’re back below trend. And the immediate-term downside on the VIX this morning is at 17.72. It’s the first time we’ve seen a 17 in front of that in a while. We have seen Implied Vol come down big time – it got cut in half twice.

The Implied Vol Premium on SPY went from +109%, to +51%, to +25%.

McCullough: Fade Your Feelings → It's #Quad2 - 2.3.3

What did you do to set up for that? I don’t particularly care what other people did, in fact, it gave us an opportunity.

Again, next time we’re at +109%, and in #Quad2, you know what to do.

Don’t forget, the Street is still short SPY. Fading your feelings. That's what it’s all about.