The VIX spiked to levels not seen since the financial crisis last week, which means investors are edgy and, more importantly, unclear about where the market is headed. The rally in Treasuries and corresponding plunge in rates looks more like panic behavior than a defensive pivot. Gold rejoined the safe haven rally after diving duration the correction week. With OPEC's failure to close a production cut deal last week, I expect oil (and energy stock) prices to remain under significant pressure again this week. That probably means that the high volatility environment carries forward into the coming week putting stocks at risk of another dive. We'll get inflation Michigan consumer sentiment data later this week, but both may end up being a non-event as long as the world focuses on the coronavirus. Here is the full scorecard for the week ahead.