VIX 1YR 30D Spread Indicator

Updated
VIX looks forward 30D and VIX1YR looks forward 1YR. So the divergence between them (VIX1YR-VIX) is interesting. On a monthly timeframe it seems to make an excellent Spy pivot indicator. It's noisier, but works on lower TFs as well.
Note
snapshot
Weekly
Note
Usually bounces off 0, sliding negative means a big pullback
Beyond Technical AnalysisVIX CBOE Volatility IndexVIX1Y

Disclaimer