The January Barometer says risk-on. The January Confirmation Indicator says risk-off. Now what?
Split signal in January 2026: The January Barometer is risk-on, but the January Confirmation Indicator is risk-off. In the last three completed cases of this split (2011, 2018, 2024), VIX later reached 48 or higher. The January Confirmation Indicator (JCI) extends the January Barometer by adding breadth, volatility, and intra-month confirmation. It keeps the one-decision-per-year …