OPTIONS markets imply that SP500 will move +/- 3.4% next week. Lower volatility will drive vol targeting funds to buy US equities, hence at this point lower volatility is bullish SP500.  Oil +/- 18.3%, Gold +/- 2.4%, AUD/USD +/-1.5% and Treasuries +/-0.55%. https://t.co/2TyB7T6Xvs