Always consider hidden risks
The VIX/ Gold Correlation US Dollar and SP500: Still Expecting High Volatility Ahead ?
 Jan 20 ​( From Stockcharts  )
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The Situation

​​​In these still too complacent times, it is interesting to look the behavior ( correlation ) of the VIX and the Gold in relation ​to the Mighty US Dollar (USD-DXY) and SP500 Index.

​​​​As shown by the charts below, this correlation tells that the risks have just started to be fully priced into the foreign exchange market yet in terms of volatility:
expect more volatility in the US Dollar and SP500 in the next few sessions...​​

​​​​VIX/GOLD correlation getting near 0.75 on January 16 and
​VIX ​still over 14, indicating still high volatility ahead...
Observe the rising wedge for the US Dollar
​( broken on the upside ). See first chart below.

SP500 index is rebounding on the support trendline and the
​150 DMA ( Day Moving Average )​ See 2nd chart below...

Last time the US Dollar Index was at that level was in
​November 2003...

The VIX/ Gold Correlation US Dollar and SP500: Still Expecting High Volatility Ahead ? $SPY, $SPX, $ES_F, $VIX, , $GLD, $GC_F,  USDX
VIX over Gold ( Top Panel )
​​SP500 Index ( Bottom Panel )
​SP500 Index 150 DMA ( Day Moving Average - Bottom Panel - Blue Line  )
VIX over Gold ( Top Panel )
​​US Dollar Index ( DXY - Bottom Panel )