Market Bottom Conditions Not Yet Confirmed Though Credit Markets Remain Healthy

Based on VIX options term structure, the current market correction is matching the fear readings seen at the November 2016 and June 2016 lows.
Looking at the Russell 3000, we are oversold from a technical and breadth standpoint but have yet to see signs of strong accumulation (90% up days denoted by green circles) to confirm a market bottom.

This post was published at FinancialSense on 08/24/2017.