History shows pullback in volatility index flags profit taking risk in the market. We continue to see US market, US Dollar Index and US yields close to the historical highs while volatility indices are at the lows. We see high risk of a pullback in the US market after exuberance has been priced in…Aussie market is likely to get hit on collateral damage!!! The alarm bells are ringing on property market…bond yields and interest rates are going up, government budget needs more taxes to keep the bogus 2020/21 budget balance in play, historical high household debt, historical low wages, growth, under employment, declining rent, oversupply of apartments and SMSF regulatory changes!!!