Volatility model remains RISK ON, only 1 out of 4 metrics are risk off. Although at elevated levels, volatility is decreasing as the markets sell-off.

Sentiment:
**Put/Call Ratio had many spikes above 1.2 and is now trending lower.
**AAII survey shows the Bulls minus Bears at levels not seen since 2008. Same with the Bull/Bear ratio which is measuring the same metric.