This Is What Happened The Last Time Yellen Hiked Into "Quad Witching"

As The Fed and quad-witch looms (and Dow 20k is within reach), the relationship between US equity and volatility complex appears to breaking down again...

Just as we saw last week, VIX and stocks are rising together...

 

But, here's a reminder what happened the last time The Fed hiked into Quad Witch...

 

The Dow was down 700 points from post-Yellen exuberance... Nasdaq broke 5,000; Dow nears 17,000; and S&P 2,000 was defended with valor...

 

Leaving everything Red for the week...

 

It's different this time though.