 The SP 500 fell 1.7 yesterday in a rout after strong service sector data triggered worries about inflation and further Fed hikes.Scotia notes that the pain trade in stocks is higher for longer but theyre not convinced weve seen peak inflation and peak Fed hawkishness.They highlight three things to watch:1 The VIX bottomingThey note that the fear gauge dropped below 20 twice this year, and each time, it coincided with an exhaustion of the bear market rally la... 