Crash Alert - U.S. Equities And Skew Index

Last year I presented one of the less known indicators - Skew Index. To remind my readers:

Skew Index is a risk measure  (quite different from the popular VIX index) daily-published by the CBOE. Without details (for those interested the details are here) this index measures the risk of a very rare market event, e.g. stock market crash or another black swan event.

Yesterday Skew Index hit its record high. Please, look at the chart below:

Well, such a high indication does not mean that we will see an instant outcome. However, Skew Index "says" - "Be extremely careful with US equities now"