The main indexes are still moderately lower, but the bears look powerless to muster any more downside today..or even tomorrow. A possible inv. H/S formation is offering the low sp'1700s within the immediate term.
Not much to add, aside that it does look we'll rally into the close. Best case for the bulls....a Tuesday gap higher..right into the 1700s, which will open up 1720s for FOMC Wednesday.
VIX update from Mr T.
Clearly, very few are seeing imminent threat of significant VIX upside.